SEC Drops Lawsuit Against Coinbase: “The War Against Crypto Is Over”

SEC Drops Lawsuit Against Coinbase: Could This Set a New Precedent for Crypto?

In a historic move, the Securities and Exchange Commission has decided to abandon the action against Coinbase, subject to the commissioners’ approval. For the cryptocurrency sector, this might be a significant court victory. According to Coinbase’s chief attorney, Paul Grewal, the U.S. SEC will shortly vote on an agreement with the cryptocurrency exchange to conclude its legal action against it.

The war against crypto, at least as it applies to Coinbase, is over,

Grewal

Approval of the settlement would not only put a stop to the lawsuit against Coinbase, but it might also help other cryptocurrency companies steer clear of comparable legal problems. Grewal added that the agreement would permanently dismiss the SEC’s charges of securities breaches against Coinbase since it would dismiss the case with prejudice.

SEC Backs Down! Trump’s Crypto Policy Sparks Major Shift in Regulations

After years of litigation and millions of taxpayer dollars, Coinbase and SEC staff have reached an agreement, said Coinbase CEO Brian Armstrong. He underlined that before the action was ultimately dismissed, it had irreparably harmed the nation.

The SEC’s approach to regulating the cryptocurrency industry has rapidly changed under President Trump’s direction. The agency has rolled back earlier crypto-related accounting guidelines and established a special task group. Now, the SEC is concentrating on creating a strong, all-encompassing regulatory framework to guarantee that digital assets can flourish responsibly.

We still have work to do and we can’t take our eyes off the ball. Legislation is critical to ensuring this type of unlawful behavior doesn’t happen again. We won’t stop fighting until we have the clear rules needed to enable the industry to truly thrive in the United States,

Grewal

For more up-to-date crypto news, you can follow Crypto Data Space.