SEC Drops Lawsuit Against Coinbase, Marking a Major Win for Crypto Industry

The U.S. Securities and Exchange Commission (SEC) has decided to drop its lawsuit against Coinbase Global Inc., which had accused the crypto exchange of breaching federal securities laws.

According to recent court documents, the case was dismissed with prejudice, meaning it cannot be refiled.

This marks a significant win for Coinbase and the wider crypto industry, as it removes the legal cloud hanging over the company.

The settlement comes after Coinbase and the SEC reached an agreement to dismiss the case, signaling a possible shift in how digital asset exchanges will be regulated moving forward.

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Court filings confirmed that all parties involved in the case had been discharged without any associated costs.

The SEC explained that its decision to close the case was part of a broader strategy to reassess and refine its regulatory stance on cryptocurrencies, not necessarily a reflection on the substance of the original claims.

This development signals a potential change in the SEC’s approach to the crypto market, especially in light of new leadership taking charge in Washington.

Coinbase has maintained throughout the process that the lawsuit was unwarranted, reinforcing its belief that the regulator should never have pursued such an action in the first place.

Kosta Gushterov