Fri, 21 Feb 2025

Fri, 21 Feb 2025 Coinbase boss claims SEC will drop crypto lawsuit

The SEC's 2023 lawsuit formed part of a crackdown on crypto firms which President Trump pledged to reverse.

* Coinbase claims that the US Securities and Exchange Commission (SEC) plans to drop a lawsuit against the company.
* The SEC had alleged in 2023 that Coinbase had violated laws by offering investments without properly registering them as securities.
* An agreement has been reached between Coinbase and the SEC's staff to dismiss the legal action, with no fines or changes to operations required.
* Coinbase's boss Brian Armstrong credited the "crypto voter" for helping secure President Donald Trump's election, which he believes contributed to the lawsuit being dropped.
* The dismissal of the lawsuit is seen as a victory for the cryptocurrency industry and its supporters, who had been critical of the SEC's tougher enforcement actions under former chair Gary Gensler.
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