Since early 2025, the U.S. Securities and Exchange Commission (SEC) under President Donald Trump's administration has dropped more than a dozen enforcement actions and lawsuits against major cryptocurrency firms, signaling a shift away from the previous regulatory approach characterized by aggressive enforcement. Notable cases closed include those involving Ripple, Helium, Kraken, Coinbase, Consensys, Uniswap, Gemini, Opensea, Robinhood, and Immutable. The SEC has also clarified that NFTs are no longer considered securities. Concurrently, the Department of Justice (DOJ) has narrowed its crypto enforcement focus to fraud and criminal conduct, stepping back from broader regulatory prosecutions. The DOJ has implemented new data security rules restricting the transfer of sensitive U.S. personal and government data to foreign adversaries, with a 90-day grace period for compliance. Additionally, the IRS's DeFi broker rule has been repealed, marking a notable regulatory relief for decentralized finance participants. The SEC has issued updated crypto securities disclosure guidelines and stablecoin guidance amid ongoing legislative developments. These regulatory changes reflect a broader pro-crypto stance, with ongoing efforts to clarify compliance requirements and cybersecurity enforcement. The SEC plans a crypto policy roundtable focused on custody issues, scheduled for April 25, 2025.