Coinbase announced that SEC staff have agreed to dismiss the enforcement case against it, contingent on Commissioner approval. CEO Brian Armstrong celebrated this outcome, expecting no fines or business adjustments. The SEC's stance on crypto assets as securities has been contentious, with Coinbase advocating for new regulations. Notably, Coinbase was a significant contributor to political campaigns, including major donations to pro-crypto PACs, emphasizing its strategic approach to influence DC politics. Armstrong expressed intent to collaborate with the SEC moving forward, especially under the upcoming new leadership by Trump's nominee, Paul Atkins.
Coinbase's efforts to support a more free and fair economic future are succeeding, especially with crypto corporations contributing to nearly half of all corporate money in the 2024 election.
What was required for us to actually matter in DC was significant funding - the industry needed to be giving more to super PACs.
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