What Happened: Speaking at the North American Blockchain Summit in Dallas on Thursday, Paglia said, according to Cointelegraph that while the SEC won’t completely withdraw its claims, many cases will “quietly go away” with defendants paying settlements under “neither admit nor deny” terms.

“The regulator will get to make some level of a statement and get something for the value of time and energy spent,” Paglia said, noting this would be “very beneficial” for resolving the extensive litigation.

The comments come as President-elect Donald Trump‘s transition team actively shapes what appears to be a dramatically different approach to crypto regulation.

See Also: Bitcoin Analyst Warns Of ‘4-6 Flash Crashes’ Before Year-End As It Inches Closer To $100K: That’s The Moment Altcoins ‘Shoot Off’

The SEC under Gensler’s leadership has pursued actions against numerous high-profile crypto companies, including Ripple, Binance (CRYPTO: BNB), Kraken, and others, in what many in the industry have characterized as an aggressive regulatory approach.

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SEC Gary Gensler. Photo by Third Way Think Tank on Flickr

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.