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SEC drops Dragonchain lawsuit amid policy shift under the Trump administration’s guidance. DRGN token jumps 95% following the SEC’s decision to dismiss unregistered securities case. SEC’s new Crypto Task Force drives case dismissal and redefines regulatory engagement. The U.S. Securities and Exchange Commission (SEC) has filed to dismiss its 2022 lawsuit against blockchain infrastructure firm Dragonchain. The joint document, filed at the Seattle federal court on April 24, represents a major change within the agency’s new digital asset regulatory approach. The SEC accused Dragonchain of conducting an unregistered securities offering during its 2017 initial coin offering (ICO), alleging the company raised approximately $16.5 million by selling its DRGN token. According to the commission, the token fulfilled the legal requirements for security, thus requiring federal registration. Additional sales between 2019 and 2022 were also alleged to be unlawful. 🚨 The SEC has officially dropped its case against Dragonchain, citing its new Crypto Task Force and policy shift. Another sign the agency is easing up on enforcement under a more crypto-friendly administration. $DRGN up nearly 95%. pic.twitter.com/qImXhYjavF — CryptoPotato Official (@Crypto_Potato) April 25, 2025 According to the filing, the commission acknowledged the efforts of the newly formed Crypto Task Force and stated that the dismissal of the lawsuit aligns with its current priorities. Both the SEC and Dragonchain agreed to end the litigation “with prejudice,” meaning the case cannot be brought again and without any award of legal costs to either party. Related: SEC Chair Paul Atkins May Signal Shift in Crypto Policy at Upcoming Roundtable Trump-Era SEC Leadership Signals Broader Policy Shift The decision follows a broader trend within the SEC since the start of President Donald Trump’s second term. With Paul Atkins sworn in as the new SEC Chair earlier this week, the agency appears to be moving away from…

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Filed under: News - @ April 26, 2025 12:24 am