NEWSLETTER
The US stock and values commission. UU. He dismissed his demand with crypto Exchange Coinbase on February 27, according to the presentations, ending the case permanently.
The SEC agreed to voluntarily dismiss all the litigation linked to coinbase and global coinbase with prejudice, which included withdrawing from its initial demand of June 2023 and its request for an interlocutory appeal with the United States Court of Appeals, a Court of February 27. presentation shows.
It occurs after the two parties announced an agreement to end the legal dispute on February 21.
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The SEC said that “dismissal will facilitate the continuous efforts of the commission to reform and renew its regulatory approach to the cryptographic industry.”
Under the former commission led by Gary Gensler, the SEC adopted a strict regulation approach for cryptography, which saw Coinbase and other heavyweights of the industry beaten with unexpected demands.
“It is time for the commission to rectify its approach and develop the cryptography policy in a more transparent way,” said the interim president of the SEC, Mark Uyeda.
A day after the president of the United States, Donald Trump, was inaugurated on January 20, the SEC established a cryptographic working group led by the SEC Commissioner, Hester Peirce, to support this new approach.
The SEC's decision to abandon Coinbase's demand follows the previous ones of Consensys, Robinhood, Gemini, Uniswap and Opensa during the last week.
Related: SEC, Justin Sun asks the judge to remain the case to explore the resolution
Coinbase was sued by the SEC in June 2023, which alleged that Coinbase was never registered as a corridor, a National Securities Agency or Compensation Agency, while claiming that the cryptographic platform evaded the dissemination requirements.
The SEC claimed that Coinbase listed more than a dozen cryptographic tokens that considered values, including Solana (Sol), Cardano (ADA), Polygon (Pol) and Filecoin (FIL).
Coinbase, led by its legal director Paul Grewal, had strongly opposed the lawsuit from the beginning, characterizing it as a regulatory overreach and at the same time criticized the commission for submitting a lawsuit after passing the company's public list on the Nasdaq stock exchange in April 2021.
Magazine: How cryptographic laws are changing worldwide in 2025
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