Coinbase set for legal win as SEC plans to dismiss landmark lawsuit

The American sec is about to put an end to its historic file against Coinbase in the middle of a turn to 180 degrees in the regulatory approach of the Commission.

Jamming announcement That the Securities and Exchange Commission will deposit to reject a federal prosecution for the exchange of American crypto for having allegedly raped the rules of titles.

In 2023, the SEC accused Coinbase of exploitation of an unscathed securities exchange and of offering unregistered securities. The case against Coinbase was one of the biggest measures to apply the application of the commission crypto under former president Gary Gensler.

“There will be no regulation or compromise – a wrong will simply be well done,” wrote Paul Grewal, legal director of Coinbase.

Crypto exchange vehemently refuted all the allegations of the dry throughout the case, even launching a counter-compliance to oblige clear regulation of the federal regulator. An American court too critical The conduct of the regulator’s cryptography and its refusal to dispel the confusion on the rules.

CEO Brian Armstrong said the decision is subject to approval by the agency management, managed by acting president Mark Uyeda. Armstrong provides confirmation by next week, as he shared on X.com.

The rejection of the trial against Coinbase reports a change marked in the approach of the SEC under President Joe Biden compared to his position during the administration of President Donald Trump. This is the first major action to apply cryptography likely to be withdrawn since President Trump took office and President Uyeda launched a working group.

The SEC also interrupted legal proceedings in the Binance case, pending resolution with the newly formed crypto working group.

We have always argued that we were right about the facts and the law, and today’s announcement confirms that this case should never have been deposited in the first place. This is a victory not only for Coinbase, but for our customers, the United States and individual freedom.

Coinbase blog article