The American SEC initially launched a war on crypto, stating that most cryptocurrencies should be considered unregistered securities. This threatened the existence of many crypto projects and the market as a whole. However, the SEC eventually backtracked on its war against crypto. The SEC faced legal defeats in various cases and withdrew ongoing cases against crypto exchanges accused of allowing the trading of unregistered securities. The turning point occurred with the victory of Trump in the presidential elections, and the Republican-led SEC aligned with Trump's pro-crypto policies and withdrew all ongoing crypto cases. Trump's policies have not had a significant impact on the crypto markets so far, but concerns about global economic crises due to potential tariffs threaten market stability.



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