Deep Tides TechFlow message. On September 24, according to Cointelegraph, SEC Commissioner Mark Uyeda disclosed at a recent public meeting that the U.S. Securities and Exchange Commission (SEC) withdrew a series of civil lawsuits targeting crypto companies in early 2025. Uyeda had served as Acting Chair of the SEC from January to April 2025. He explained that because the agency is planning to make a “180-degree” policy shift in rulemaking, continuing to pursue cases authorized by the previous administration could cause the agency to take legally inconsistent positions, thereby damaging its credibility in court.

Uyeda said that he did not want to see lawyers insist on old positions in court, only for the committee later to issue a judicial interpretation that was completely opposite. He noted that at the time there were “serious concerns” internally about the legality of these cases. The cases that were dismissed this time involved multiple major cryptocurrency firms, including the high-profile Kraken, Ripple Labs, and Coinbase. In addition, the report said that some critics interpreted this move as a payoff for the industry’s support of U.S. presidential candidate Donald Trump’s 2024 campaign.