Crypto Crackdowns: What's Happening with the SEC and Justin Sun?

The SEC is under fire for dropping crypto cases, including one against Justin Sun. Maxine Waters, a top Democrat, questioned SEC Chairman Paul Atkins about the agency's sudden change in direction. She pointed out that the SEC abandoned many crypto enforcement cases when Trump took office and replaced the leadership. Sun, the founder of Tron, was accused by the SEC of manipulating the price of his token, TRX. The SEC alleged that Sun and his employees conducted over 600, 000 wash trades to artificially inflate the token's value. However, the case has been on hold for a year, with no resolution in sight.Waters also mentioned Sun's connections to Trump's family and a recent claim by an alleged ex-girlfriend who said she had evidence of TRX manipulation. The SEC has not commented on these developments. Atkins defended the SEC's approach, stating that they focus on real fraud involving securities. He also mentioned that the SEC is working on new regulations for the crypto industry, alongside the Commodity Futures Trading Commission (CFTC). Meanwhile, the crypto industry is watching a policy race between the SEC and Senate lawmakers. The Senate is working on the Clarity Act to regulate U. S. crypto markets, but recent setbacks have slowed their progress. With the SEC potentially taking the lead, the future of crypto regulation in the U. S. remains uncertain.