SEC Drops Enforcement Lawsuit Against Against Top US Crypto Exchange, ‘Righting a Major Wrong’: Coinbase

The U.S. Securities and Exchange Commission (SEC) is dropping a lawsuit against the top US-based crypto exchange, according to a new Coinbase blog post. Coinbase says the SEC has agreed “in principle” to dismiss its case with Commissioner approval. According to Coinbase, the suit being dropped should be viewed as a “major win for the rule of law”. Coinbase says that it has always complied with the SEC since going public in 2021. However, according to the top US-based crypto exchange by trading volume, political changes at the top of the SEC caused the regulator to file an “unlawful” suit against the exchange in 2023. That lawsuit is now being dropped. In a new interview with CNBC’s “ Squawk Box “, Coinbase CEO Brian Armstrong doubles down on the exchange’s claims that the lawsuit was politically motivated. “I think it’s a really important signal that, [after] a small group of activists in this prior administration who tried to unlawfully attack this industry, we’re going to be able to turn the page on that and finally get some regulatory clarity in America… I hope that they’ll dismiss all the bogus cases, frankly, and it will be a domino effect for the rest of the industry.” The news comes one day after the SEC announced the consolidation of its crypto unit into the newly created Cyber and Emerging Technologies Unit (CETU). Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post SEC Drops Enforcement Lawsuit Against Against Top US Crypto Exchange, ‘Righting a Major Wrong’: Coinbase appeared first on The Daily Hodl .