The US Securities and Exchange Commission’s top enforcement official Margaret Ryan resigned after internal disputes over how to handle high-profile cases tied to figures close to President Donald Trump.
Ryan reportedly pushed to pursue stronger fraud charges in cases involving crypto entrepreneur Justin Sun and Tesla CEO Elon Musk but faced resistance from SEC leadership.
The disagreements reflected broader tensions within the agency, according to sources familiar with the matter.
The SEC recently settled its case against Sun and his companies for $10 million without admission of wrongdoing, despite earlier allegations of unregistered securities sales and market manipulation.
Meanwhile, the regulator is in talks to settle its case against Musk over disclosures related to his acquisition of Twitter shares.
Ryan’s departure comes amid increased scrutiny from lawmakers over the SEC’s shift in enforcement strategy, including dropping or settling several crypto-related cases.
The developments highlight growing political and regulatory friction within the SEC as it navigates crypto enforcement and high-profile legal battles.