Trump Administration Drops Regulatory Lawsuits: What It Means for Crypto and Big Tech

Image credits: President Donald Trump's administration is dropping some lawsuits and investigations into major businesses, including crypto firms and Big Tech giants. (Photo credit: Kyle Mazza/Anadolu via Getty Images; Chelsea Jia Feng/BI)

The Trump administration's decision to drop several regulatory lawsuits has sent shockwaves through the business world. Crypto firms, in particular, are celebrating as the SEC ends its investigations and lawsuits against companies like Coinbase, Robinhood, and Kraken. But what does this mean for the future of crypto regulation and antitrust enforcement?

According to attorney and Brookings fellow Bill Baer, the Trump administration's approach to antitrust enforcement will likely be more lenient than its predecessor. "Gail Slater, who's going to be confirmed head of the DOJ antitrust division pretty soon, is an experienced antitrust lawyer, and her confirmation hearings suggested she was pretty much going to stay the course," Baer said.

However, this doesn't mean that Big Tech giants like Google, Amazon, and Apple are off the hook. The DOJ has inherited several ongoing antitrust-enforcement lawsuits from the previous administration, including cases against Ticketmaster, Google, Meta, Amazon, and Apple. These cases are expected to continue, with some experts predicting an uptick in traditional securities cases.

The dropped lawsuits against crypto firms are a significant win for the industry, which has long argued that overly restrictive regulations are stifling innovation. Coinbase CEO Brian Armstrong celebrated the decision, saying it was a "huge day" for the company and calling the case "bogus." OpenSea founder and CEO also cheered the decision, writing, "This is a win for everyone who is creating and building in our space. Trying to classify NFTs as securities would have been a step backward — one that misinterprets the law and slows innovation."

But not everyone is happy about the Trump administration's approach to regulatory enforcement. Some critics argue that the dropped lawsuits are a sign of a more lenient approach to regulation, which could lead to a lack of oversight and accountability in the business world.

As the business world continues to evolve, one thing is clear: the Trump administration's approach to regulatory enforcement will have far-reaching consequences. Whether you're a crypto enthusiast, a Big Tech giant, or just a concerned citizen, it's essential to stay informed about the latest developments in regulatory enforcement and antitrust law.

In conclusion, the Trump administration's decision to drop several regulatory lawsuits is a significant win for crypto firms and a sign of a more lenient approach to regulation. However, it's essential to remember that antitrust enforcement is still a top priority, and Big Tech giants will likely continue to face scrutiny in the coming months and years. As the business world continues to evolve, it's crucial to stay informed and adapt to the changing regulatory landscape.