The U.S. Securities and Exchange Commission (SEC) has officially closed its investigation into Crypto.com exchange without pursuing enforcement action.

This development comes after Crypto.com had previously received a Wells notice from the agency – typically a signal that charges are likely – related to its US operations.

The U.S. Securities and Exchange Commission (SEC) has closed its investigation into Crypto.com exchange without pursuing any enforcement action, according to a source close to the matter.

This development comes after Crypto.com had previously received a Wells notice from the SEC – typically a signal that charges are likely – related to its US operations. The agency began probing the exchange in October 2022.

Earlier this year, Crypto.com filed a lawsuit in an attempt to challenge the SEC’s jurisdiction and its classification of most cryptocurrencies as securities. However, the exchange later withdrew that suit.

The news of Trump potentially appointing Paul Atkins, a figure seen as potentially more crypto-friendly, to chair the SEC, emerged shortly afterwards.

Following the probe, Crypto.com’s CLO Criticizes Former SEC Leadership

Nick Lundgren, Chief Legal Officer at Crypto.com, had previously voiced criticism of the SEC’s actions under former leadership. He asserted that the agency sometimes exercised its regulatory might in ways that could be detrimental to the nascent crypto industry.

“Despite the lengthy process, Crypto.com remains committed to upholding the rule of law,” Lundgren stated at the time.

The regulatory resolution for Crypto.com also coincides with a partnership with Trump Media and Technology Group Corp. (TMTG). The two companies plan to launch a series of “Made in America” exchange-traded funds (ETFs).

These investment funds will reportedly hold a mix of digital assets, including Bitcoin (BTC) and Crypto.com’s own Cronos (CRO), alongside stocks related to industries focusing on American-made products and supply chains. The ETFs are expected to be offered through Crypto.com’s US-registered broker-dealer, Foris Capital US, and potentially accessible on other major brokerage platforms across the US, Europe, and Asia.

The closure of the Crypto.com probe adds to a recent pattern where the SEC appears to be dialing back certain crypto enforcement investigations initiated under previous leadership.

In recent months, the agency also closed probes involving exchanges Kraken and Coinbase without filing charges. Additionally, the SEC dropped its appeal in the case against Ripple Labs and concluded an investigation into Immutable regarding its IMX token without taking legal action.