SEC Finally Backs Off Crypto Lawsuit—Wait, Is This Real Life?

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So, here’s the scoop: the U.S. Securities and Exchange Commission, aka the folks who spend most of their time yelling “you can’t do that!” at crypto kids, just dropped their lawsuit against Dragonchain. Yeah, the SEC did a full-on 180, like they suddenly realized maybe, just maybe, there’s a better way than being the fun police of blockchain.

And who spilled the beans? Eleanor Terrett, some ex-Fox Business reporter who’s now whispering crypto secrets at CryptoAmerica. Because, obviously, who else?

🚨BREAKING (for people who care): SEC Axes Dragonchain Lawsuit in Latest Crypto Flip-Flop

“We finally have the right to innovate without fear,” says the Dragonchain guy @j0j0r0. As if, right?

Catch the latest gossip in the @CryptoAmerica_ newsletter ⬇️

— Eleanor Terrett (@EleanorTerrett) April 25, 2025

Basically, the SEC and Dragonchain are playing nice now, shaking hands and tossing the lawsuit in the trash. Looks like the SEC is on a crypto break, kinda like when you ignore your emails for a week because, why not?

They’ve been hitting pause or dropping cases left and right—Coinbase, Binance, Robinhood, Uniswap, OpenSea… the usual suspects of the crypto world. Even Ripple got a pass last month. It’s like the SEC suddenly realized, “Maybe we should actually talk to these people instead of suing them.”

So, what’s the deal?

The SEC slapped Dragonchain with a lawsuit back in 2022, calling their ICO from 2017 a sneaky unregistered securities sale. They said Dragonchain’s DRGN token was basically a security, which sounds about as exciting as city council meetings.

But now, both sides filed something together saying, “Let’s drop this thing,” while the SEC’s new Crypto Task Force (formed January, probably after someone had a really bad hangover) holds chit-chats with the industry. Apparently, they want to give some “guidance.” Because that word means everything and nothing all at once.

And just to keep the drama alive, SEC Chair Paul Atkins is hitting the stage today for their crypto roundtable. You know, the one everyone’s pretending to schedule around so they can hear if the SEC finally admits they don’t hate crypto—or at least pretend to like it. Grab your popcorn, folks 🍿.

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2025-04-25 17:44