Overview
- House and Senate hearings this week featured Democrats pressing SEC Chair Paul Atkins about paused or dropped crypto cases and possible deference to firms tied to President Trump.
- Lawmakers highlighted the stalled 2023 case against Justin Sun, which alleged more than 600,000 TRX wash trades, noting the court stay sought in 2025 and the lack of a public resolution.
- Atkins declined to discuss individual matters, citing litigation restrictions, and said he would brief lawmakers privately within the rules.
- SEC leadership defended a move away from regulation-by-enforcement toward joint rulemaking with the CFTC aligned to the House-passed Clarity Act framework.
- New public claims from a woman identifying herself as Sun’s ex-girlfriend were reported to the SEC, adding pressure as Sun denied the allegations.