The SEC has reportedly closed an investigation into Haliey Welch, the celebrity promoter of the Hawk Tuah meme coin. The $HAWK meme coin's market value surged upon Welch's announcement of it in December 2024, but then took a steep dive in the subsequent hours. A group of buyers later brought a proposed securities class action over their losses. According to Welch's attorney, James Sallah, the SEC is no longer scrutinizing Welch's involvement with the project.

The Supreme Court has asked the federal government to weigh in on crypto investor James Harper’s petition to reverse a lower court ruling that found the IRS was allowed to seize his records from Coinbase without a warrant. The justices gave the government 30 days to respond. The request came after the government waived its right to respond to the petition, and following support for Harper in amicus briefs from more than a dozen sources, including Elon Musk's X Corp., fives states, and technology and privacy advocacy groups.

The FDIC issued new guidance affirming that FDIC-supervised institutions may engage in certain crypto-related activities without receiving prior regulatory approval. FDIC Acting Chair Travis Hill said in a press release that he expects "this to be one of several steps the FDIC will take to lay out a new approach for how banks engage in crypto- and blockchain-related activities." Senate Banking Committee Republicans tweeted in support of the guidance, arguing that it “will help ensure the United States can be the crypto capital of the world.”

The CFTC withdrew two advisories to ensure that there is no suggestion that “regulatory treatment of digital asset derivatives will vary from its treatment of other products,” which could make it easier for digital asset firms to list crypto futures. The actions affect an advisory on trading from 2018, and one about clearing from 2023.

Crypto.com CEO Kris Marszalek said in a post on X that the SEC’s investigation into the company has been closed with no action taken against it. Crypto.com Chief Legal Officer Nick Lundgren added in a statement that "Under the previous administration, the SEC weaponized and attempted to expand its congressionally granted power in order to harm an industry that its former chair disfavored."

The SEC filed joint stipulations to drop without prejudice the agency’s enforcement actions against Kraken, Consensys, and Cumberland DRW. The three lawsuits were terminated simultaneously, marking the latest reversal in the agency's regulatory approach toward digital assets. The decisions are final and not subject to refile.

The Justice Department announced that it has seized over $200,000 in crypto held in wallets and accounts intended to benefit Hamas. According to DOJ, the seized funds were traced from fundraising addresses purportedly controlled by Hamas that were used to launder more than $1.5 million in virtual currency since October 2024.

The Senate Banking Committee held a confirmation hearing on the nomination of Paul Atkins to serve as SEC chair. Committee Democrats expressed opposition over Atkins’ potential conflicts of interest and support for deregulation, while Republicans were broadly supportive. Chair Tim Scott (R-SC) focused on crypto debanking. The Committee also considered the nominations of Jonathan Gould to be Comptroller of the Currency, and Marc Molinaro to lead the Federal Transit Administration.

SEC chair nominee Paul Atkins plans to tell the Senate Banking Committee that developing a clear approach to regulating digital assets will be a “top priority” of his chairmanship, according to his prepared testimony. In his testimony, published by the Senate Banking Committee ahead of the confirmation hearing, Atkins pledged to work with his fellow SEC commissioners and Congress "to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach."