SEC Crypto Task Force Meets with Pro-Trump Firms
In a major policy shift under the Trump administration, the U.S. Securities and Exchange Commission (SEC) has entered direct discussions with crypto firms previously known for supporting former President Trump. This new SEC Crypto Task marks a significant change in the regulatory landscape for digital currencies.
According to a statement released on April 24, 2025, the SEC’s Crypto Asset Working Group met with representatives from Ondo Finance and the law firm Davis Polk & Wardwell to discuss the legal framework for tokenized securities and crypto-based ETFs. The discussions are part of the SEC Crypto Task’s broader efforts.
Meeting Highlights & Background
| Company | Notable Ties to Trump |
|---|---|
| Ondo Finance | Donated $1 million to Trump’s inauguration |
| Davis Polk | Legal counsel for Trump’s media company (Truth Social) in launching crypto ETFs |
Topics Discussed with the SEC:
- ✅ Registration requirements for tokenized securities were a primary focus within the SEC Crypto Task.
- ⚖️ Compliance with current financial regulations was also highlighted.
- 🧪 Introduction of a potential regulatory sandbox to test new crypto products was suggested by the SEC Crypto Task as well.
SEC’s Ongoing Engagements Under New Leadership
This meeting is part of a broader initiative following the departure of Gary Gensler as SEC Chair. His successor, Paul Atkins, was sworn in on April 21, but has not yet publicly outlined his full crypto agenda. Nonetheless, the SEC Crypto Task is continuing its work under his leadership.
📅 On April 25, another public session will be held with major industry players like Kraken, Anchorage Digital, and WisdomTree to discuss digital asset custody frameworks.
Read More: Trump’s Inauguration and Earnings Reports
Legal Cases Paused – A Shift in Enforcement?
Since the leadership change, the SEC has quietly dropped or paused several high-profile legal actions:
| Case/Company | Status Update |
|---|---|
| Richard Heart (Hex) | Case dropped entirely |
| Ripple, Coinbase, Kraken | Investigations or lawsuits paused by the SEC Crypto Task |
📝 All three exchanges have either contributed to Trump’s campaign or have executives closely aligned with his policies.
Analytical Summary
| Insight 🔍 | Explanation |
|---|---|
| 🟢 Softer Tone from the SEC | New leadership signals a friendlier stance toward crypto |
| 🟠 Concerns Over Political Favoritism | Engagements mainly with Trump-linked firms raise questions about the SEC Crypto Task’s impartiality |
| 🔵 Possible Institutional Acceptance | Talks on tokenization hint at broader market integration |
What’s Next?
While the overall outlook remains uncertain, the door to regulatory discussion seems more open than ever. The new SEC leadership appears to prioritize dialogue and legal clarity over enforcement-first tactics — potentially paving the way for the mainstream adoption of crypto assets in U.S. capital markets. The work of the SEC Crypto Task will likely continue to be a pivotal factor in these developments.
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