{"id":47893,"date":"2025-02-21T15:18:10","date_gmt":"2025-02-21T15:18:10","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/coinbase-scores-major-win-as-sec-set-to-drop-lawsuit\/"},"modified":"2025-02-21T15:18:10","modified_gmt":"2025-02-21T15:18:10","slug":"coinbase-scores-major-win-as-sec-set-to-drop-lawsuit","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/coinbase-scores-major-win-as-sec-set-to-drop-lawsuit\/","title":{"rendered":"Coinbase scores major win as SEC set to drop lawsuit"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/coinbase-logo-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/coinbase-logo-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/coinbase-logo-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/coinbase-logo-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li>Coinbase says the SEC has agreed to dismiss its lawsuit against the US-based crypto exchange.<\/li>\n<li>The SEC sued Coinbase in 2023 but with Gary Gensler\u2019s exit, the regulator is eyeing better regulatory approach.<\/li>\n<\/ul>\n<p>US-based crypto exchange Coinbase is set for a landmark development after the Securities and Exchange Commission reportedly agreed to dismiss its own lawsuit against the exchange.<\/p>\n<p>Coinbase announced the huge news in a <a href=\"https:\/\/www.coinbase.com\/blog\/righting-a-major-wrong\" target=\"_blank\" rel=\"noopener\">blog post<\/a> on Friday, Feb. 21. Coinbase CEO Brian Armstrong also shared the development in an <a href=\"https:\/\/www.cnbc.com\/video\/2025\/02\/21\/coinbase-ceo-brian-armstrong-sec-case-was-bogus-we-were-right-on-the-facts.html\" target=\"_blank\" rel=\"noopener\">interview<\/a> with CNBC\u2019s Squawk Box.<\/p>\n<p>\u201cSEC staff has agreed in principle to dismiss its unlawful enforcement case against Coinbase, subject to Commissioner approval \u2013 righting a major wrong,\u201d Coinbase chief legal officer Paul Grewal wrote.<\/p>\n<p>Coinbase CEO Brian Armstrong also shared the news via X.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Great news!<\/p>\n<p>After years of litigation, millions of your taxpayer dollars spent, and irreparable harm done to the country, we reached an agreement with SEC staff to dismiss their litigation against Coinbase. Once approved by the Commission (which we&#8217;re told to expect next week)\u2026 <a href=\"https:\/\/t.co\/IlnoBs7N6n\">pic.twitter.com\/IlnoBs7N6n<\/a><\/p>\n<p>\u2014 Brian Armstrong (@brian_armstrong) <a href=\"https:\/\/twitter.com\/brian_armstrong\/status\/1892922696536555614?ref_src=twsrc%5Etfw\">February 21, 2025<\/a><\/p>\n<\/blockquote>\n<h2>SEC vs. Coinbase ending<\/h2>\n<p>According to the exchange, the regulator\u2019s decision to withdraw the case follows a settlement that does not involve any financial penalty against <a href=\"https:\/\/coinjournal.net\/news\/tag\/coinbase\/\">Coinbase<\/a>. The next move is for the SEC commissioners to ratify the agreement and end a major legal hurdle that <a href=\"https:\/\/coinjournal.net\/news\/coinbase-could-relocate-from-the-us-if-no-regulatory-clarity-says-ceo\/\">set the US crypto market back<\/a>.<\/p>\n<p>\u201cWhile dismissal will be a major win for the rule of law \u2013 and a clear vindication of our position \u2013 most of all it will be a win for the entire industry and the 52 million Americans who have owned a digital asset,\u201d Grewal added.<\/p>\n<p>The SEC filed its lawsuit against Coinbase in 2023, accusing the exchange of operating an unregistered securities exchange. The lawsuit also included allegations of offering unregistered securities.<\/p>\n<p>Coinbase contested the charges and sought a dismissal, with industry players criticizing then SEC Chair Gary Gensler of overreach amid regulation by enforcement approach.Notably, the SEC had also <a href=\"https:\/\/coinjournal.net\/news\/binance-and-sec-file-joint-motion-pausing-legal-case-for-60-days\/\">sued Binance<\/a>, the world\u2019s largest crypto exchange by trading volume. Other exchanges to come into the \u201crogue\u201d agency\u2019s cross-hairs is Kraken.<\/p>\n<p>However, things at the securities watchdog have taken a crypto-friendly turn since Donald Trump\u2019s election and the exit of Gensler and other Commissioners.<\/p>\n<p>Acting chair Mark Uyeda has formed a <a href=\"https:\/\/coinjournal.net\/news\/acting-sec-chair-uyeda-announces-new-crypto-task-force\/\">crypto task force<\/a> and renamed an <a href=\"https:\/\/coinjournal.net\/news\/sec-launches-new-unit-to-combat-crypto-fraud-and-cybercrime\/\">enforcement unit<\/a> amid the quest to balance compliance and the need to protect investors.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/coinbase-scores-major-win-as-sec-set-to-drop-lawsuit\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Coinbase says the SEC has agreed to dismiss its lawsuit against the US-based crypto exchange. The SEC sued Coinbase in 2023 but with Gary Gensler\u2019s exit, the regulator is eyeing better regulatory approach. US-based crypto exchange Coinbase is set for a [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":47894,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/47893"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=47893"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/47893\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/47894"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=47893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=47893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=47893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}