The filing signals a possible end to a high-profile dispute that has gripped the payments upstart industry since December 2020 for its sale of XRP tokens.
In a letter to Deputy Attorney General Todd Blanche on Thursday, the six lawmakers urged him to reconsider his recent decision to disband the DOJ’s crypto enforcement squad.
The successful reversal of the Internal Revenue Service rule marks the first time the industry got a significant pro-crypto effort through Congress.
As part of the settlement agreement, the SEC agreed to drop its claims that three of Nova Labs’ tokens, including the native HNT token, were securities.
The SEC staff statement was based on observations about previous disclosures, the agency said.
Prosecutors told a New York judge on Thursday that they don’t plan to change the charges against Kwon in light of the memo.
The payments and blockchain firm has agreed to an outside monitor as it resolves its compliance with New York regulations.
Under his leadership the FCA has hosted a registration regime for crypto firms and has launched discussion papers on the incoming 2026 regime.
Former SEC Commissioner Paul Atkins will be sworn in as the agency's next chair and will oversee future regulation for the crypto sector.
The regulator had initially postponed a decision back in February but ETF analyst James Seyffart said the approval wasn’t a surprise.