Coinbase's legal battle with the SEC over allegations of operating an unregistered securities exchange will conclude with the SEC's agreement to dismiss the case. This signals a possible regulatory shift towards a more lenient approach under Trump's administration, as he has favored crypto and even introduced his own digital coin. Coinbase CEO Brian Armstrong emphasized that this decision could have a domino effect across the cryptocurrency industry. Additionally, SEC Chairman Mark Uyeda indicated a new strategy in enforcing regulations within the crypto sector, highlighting a significant change in the regulatory landscape.
It's a great day for Coinbase and for crypto, Paul Grewal, Coinbase's chief legal officer. We were committed to defending it to the gates of hell, for as long as it took and for as much money as it took.
This is a huge day for Coinbase and will create a domino effect for the rest of the industry, said Coinbase CEO Brian Armstrong.
Acting SEC Chairman Mark Uyeda said the organization would now deploy enforcement resources judiciously when investigating crypto companies.
The agreement to end the case reflects a significant shift in how the US government will enforce regulations on the crypto market.
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