Democratic Congresswoman Maxine Waters Slams SEC Chair's Crypto Policy, Calls for Hearing

**December 30th** Prediction market Kalshi pegs the Democratic Party’s chance at winning a U.S. House majority in 2026 at roughly 75%. Against that backdrop, Maxine Waters—senior Democratic member of the House Financial Services Committee—has sharply criticized SEC Chair Paul Atkins’ crypto asset regulation policies. In a letter to committee Republican Chair French Hill, Waters highlighted the SEC has terminated or suspended key crypto enforcement actions involving Coinbase, Binance, and Justin Sun. She argued the panel has yet to fully review *why* the SEC dropped these cases, or how to prevent future fraud and manipulation targeting retail investors. Waters also noted some firms in the cases publicly announced settlements before the SEC held a formal vote, questioning Atkins’ team’s “unusually proactive” role in resolving the matters. She contends the SEC’s recent policy shifts have relied on staff statements—not formal rulemaking—potentially skirting Administrative Procedure Act (APA) requirements, weakening public comment opportunities, and evading congressional oversight. She has therefore requested Atkins testify at a hearing to explain. Reports note the SEC has dropped multiple crypto lawsuits since the Trump administration took office and completed leadership changes. Atkins has repeatedly stated public support for crypto industry development as a regulatory priority—a stance that remains a focus of Democratic scrutiny and questions.