The US SEC Commission’s crypto regulatory approach is close to ending its historical case against the coinbase between a turn of 180 degrees.
coincidence Announced The Securities and Exchange Commission would have filed a federal case against the US -based Crypto Exchange for allegedly violating the rules of securities.
In 2023, the SEC accused the coinbase of conducting an unregistered securities exchange and offering unregistered securities. The case against the coinbase was one of the largest crypto-related enforcement operations of the Commission under former president Gary Gensler.
Paul Grewal, the Chief Legal Officer of the Coinbase, wrote, “There will be no compromise or agreement – one wrong will be just correct.”
The Crypto Exchange denied all the allegations from the SEC throughout the case, even started a countercoot to force the federal regulator to make clear rules. An American court also criticized the crypto conduct of the regulator and refused to remove the confusion about the rules.
CEO Brian Armstrong said that the decision is subject to approval by the leadership of the agency led by Interim Chairman Mark Uyda. Armstrong is expected to confirm by next week, as he shared on x.com.
Rejecting the trial against the coinbase, President Donald Trump indicated a marked change in the SEC’s approach under the President Joe Biden compared to his stance during administration. This is the first major crypto enforcement action that is likely to withdraw as President Trump took over and the chair Uyda launched a task force.
The SEC has also stopped the court proceedings in the Benance case, pending a proposal with the newly formed Crypto Task Force.
We have always ensured that we were correct on facts and laws, and today’s declaration confirms that the matter should never be filed in the first place. This is a win not only for the coinbase but also for our customers, the United States and personal freedom.
Coinbase blog post
