Under the leadership of the SEC chairman appointed by Trump, cryptocurrency enforcement actions decreased by 60% in 2025

According to a report by Cryptonews, a Cornerstone Research report reveals that under Paul Atkins' chairmanship of the U.S. Securities and Exchange Commission (SEC), the number of cryptocurrency-related enforcement actions initiated by the SEC in 2025 significantly decreased. The report shows that in 2025, the SEC initiated only 13 cryptocurrency-related enforcement actions, a 60% decrease from 33 in 2024, marking the lowest level since 2017.

Among these 13 cases, 5 were initiated before former chairman Gary Gensler's departure, while the 8 cases under Atkins' leadership primarily involved fraud allegations, indicating a shift in enforcement focus from broad registration theories to specific cases of investor harm.

The total fines imposed on digital asset market participants in 2025 amounted to $142 million, less than 3% of the total fines in 2024. The head of Cornerstone Research stated that this reflects a shift in the SEC's approach to digital asset regulation under Atkins' leadership, with expectations that U.S. cryptocurrency regulation in 2026 will rely more on rule-making rather than ad-hoc litigation.