SEC to Dismiss Lawsuit Against Coinbase 🎉🎉
In a significant regulatory development, the U.S. Securities and Exchange Commission (SEC) has agreed to dismiss its lawsuit against Coinbase, which sought to regulate the cryptocurrency exchange as a stock exchange.
This decision marks the end of a prolonged legal battle over bringing crypto under investor-protection rules. The dismissal, pending a commission vote expected next week, follows the re-election of President Trump, known for his favorable stance on cryptocurrencies.
Critics argue that this retreat could embolden bad actors in the unregulated crypto space, while proponents view it as a positive shift for the industry. Coinbase's Chief Legal Officer, Paul Grewal, stated, "It's a great day for Coinbase and for crypto."