SEC Coinbase Lawsuit Dismissed: Paving the Way for Clear Crypto Regulation

The post SEC Coinbase Lawsuit Dismissed: Paving the Way for Clear Crypto Regulation appeared first on Coinpedia Fintech News

In a groundbreaking development, the Securities and Exchange Commission has agreed to drop the case against Coinbase, pending approval from the agency’s commissioners. This could be a major legal win for the cryptocurrency industry.

The U.S. SEC will soon vote on a deal with coinbase

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to end its legal case against the crypto exchange, according to Coinbase’s top lawyer. “The war against crypto, at least as it applies to Coinbase, is over,” Coinbase Chief Legal Officer paul grewal

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paul grewal

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said in an interview.

The upcoming vote could be a major turning point. If the deal is approved, it would not only end the case against Coinbase but also potentially help other crypto businesses avoid similar legal issues. Besides, since the deal would dismiss the case “with prejudice,” it means that the SEC’s accusations of securities violations against Coinbase would be permanently dismissed, remarked Coinbase’s CLO Paul Grewal. 

Under President Trump’s leadership, the SEC has quickly shifted its approach to regulating the crypto world. The agency has set up a special task force and rolled back previous accounting guidelines related to crypto. The SEC’s focus is now on building a solid, comprehensive regulatory framework to ensure digital assets can thrive in a responsible way.

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“We still have work to do and we can’t take our eyes off the ball. Legislation is critical to ensuring this type of unlawful behavior doesn’t happen again. We won’t stop fighting until we have the clear rules needed to enable the industry to truly thrive in the United States,” shared Paul Grewal in response to the news.