Key Takeaways:
- SEC Drops Coinbase Lawsuit: The SEC has officially dismissed its case against Coinbase with prejudice, permanently closing the matter.
- Regulatory Shift in Crypto: The SEC is reassessing its regulatory stance, with Acting Chair Mark Uyeda advocating for a more transparent policy.
- Broader Legal Relief: Coinbase joins other firms, including Robinhood, Gemini, and Uniswap, in seeing SEC lawsuits dropped, signaling a regulatory pivot.
The U.S. Securities and Exchange Commission (SEC) has officially dismissed its lawsuit against Coinbase, marking a significant shift in crypto regulation.
Filed in June 2023, the lawsuit accused Coinbase of operating as an unregistered broker and offering unregistered securities.
Just filed, SEC v. Coinbase: STIPULATION OF VOLUNTARY DISMISSAL It is hereby stipulated and agreed by and between the parties and/or their respective counsel(s) that the above-captioned action is voluntarily dismissed, with prejudice against the defendant(s) https://t.co/2L5GN5H5V7 pic.twitter.com/jFWQHGuwSy
— Inner City Press (@innercitypress) February 27, 2025
However, on Feb. 27, the SEC dropped the case with prejudice, permanently closing it.
This move follows an agreement reached on Feb. 21 between the SEC and Coinbase.
The decision reflects a broader regulatory shift under Acting Chair Mark Uyeda, who advocates for a more transparent approach to crypto oversight.
The SEC stated that dismissing the lawsuit would help reform its regulatory stance on the industry.
This comes after President Donald Trump’s administration, inaugurated on Jan. 20, established a Crypto Task Force led by Commissioner Hester Peirce to guide new policies.
Coinbase is not alone in seeing legal relief.
The SEC has also dropped lawsuits against Consensys, Robinhood, Gemini, Uniswap, and OpenSea, signaling a potential shift away from aggressive enforcement.
Coinbase had strongly opposed the lawsuit, highlighting the SEC’s approval of its Nasdaq listing in 2021.
Now, focus turns to how the SEC will redefine its crypto regulatory framework moving forward.
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Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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