SEC and CFTC Make Unexpected Statement on Cryptocurrency Sanctions: "We're Not Going Anywhere" - What Does It Mean?

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Senior sanction authorities from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) once again reaffirmed their determination to regulate market abuse, despite the Trump administration's ongoing efforts to restructure federal agencies.

Antonia Apps, Deputy Director of Sanctions at the SEC, and Brian Young, Director of Sanctions at the CFTC, speaking at an American Bar Association event in Miami today, emphasized that sanctions will continue to be a priority even in the midst of broader policy changes.

Apps said, "You may expect to see some changes depending on priorities and different policies we can follow," and added, "But we will always proceed with the fundamental sanction agenda we are advancing."

The statements come at a time when both regulatory agencies have undergone significant transformations under Republican leadership. Since the end of January, while the SEC has been reviewing cryptocurrency sanction policies, the CFTC has also restructured its sanction division.

Comments were made at a government sanctions conference focusing on white-collar criminals, where it was reported that Justice Ministry officials refrained from speaking due to ongoing changes and turmoil within the Justice Ministry.

Both Apps and Young expressed strong support for sanction personnel facing layoffs and budget cuts due to the management's efforts to reshape the federal workforce in collaboration with special advisor Elon Musk.

Young, "In addition to doing great work, CFTC sanction personnel are really good people," she said, adding: "I think taxpayers should owe it to what they do for us every day."

Young also stated that the institution prioritizes cases where there is a strong possibility of refunding funds to victims of fraud or market manipulation.

One of the most notable policy changes occurred at the SEC, which suspended or dropped active lawsuits and investigations related to cryptocurrencies. When asked about the future of crypto sanctions, Apps reiterated that the institution will continue to pursue cases involving fraud and clear regulatory jurisdiction authority.

He said, "We are not leaving."

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