Two US senators have pressed the Securities and Exchange Commission for answers following the resignation of enforcement director Margaret Ryan amid concerns over politically sensitive crypto cases.
Senator Richard Blumenthal questioned the SEC’s decision to drop a fraud case against Tron founder Justin Sun shortly before Ryan stepped down, raising concerns over potential preferential treatment.
A separate letter from Senator Elizabeth Warren also queried whether Ryan faced resistance from agency leadership when pursuing cases linked to individuals connected to President Donald Trump.
“While Tron accounts for a third of all payment tokens in the crypto ecosystem by some metrics, 58% of all illicit finance in crypto occurred on Tron’s network in 2024,”
Said Senator Richard Blumenthal.
The scrutiny comes as Democrats intensify oversight of Trump-linked crypto ventures, including World Liberty Financial and the Official Trump memecoin, citing potential conflicts of interest.
Blumenthal has requested records of SEC communications with crypto firms and Trump-affiliated individuals, including members of the Trump and Witkoff families.
The SEC has said enforcement decisions will be based on law and facts rather than politics, though the situation adds to broader debate over regulatory consistency in the crypto sector.
At the time of reporting, World Liberty Financial price was $0.09944.