PANews|Jan 16, 2026 03:04
[U.S. House Democrats Pressure SEC to Explain Reasons for Halting Multiple Crypto Enforcement Cases]
According to The Block, U.S. Representatives Maxine Waters, Sean Casten, and Brad Sherman sent a letter on Thursday to SEC Chairman Paul Atkins, requesting an explanation for the agency's decision to halt multiple crypto enforcement cases, including the lawsuit against TRON founder Justin Sun.
In the letter, the lawmakers pointed out that since early 2025, the SEC has withdrawn over a dozen crypto-related cases, including those against Binance, Coinbase, and Kraken. This move coincided with a surge in political donations from the industry, raising concerns about a potential "pay-to-play" scheme. The letter mentioned that crypto companies donated at least $85 million to President Trump's reelection campaign, while the companies whose cases were withdrawn had each donated at least $1 million to Trump's inauguration.
They expressed particular concern over the Justin Sun case, noting that it has been paused for 11 months, signaling selective enforcement and the possibility of political influence affecting accountability. The lawmakers also issued a separate document preservation request, demanding the SEC provide all communication records related to the decision to pause the Justin Sun case.
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