SEC Pauses, Drops, and Closes: A Month of Regulatory Reversals

• Things look different at the SEC after Gary Gensler’s exit.
• The SEC has dismissed multiple lawsuits and paused others.
• Coinbase CEO considers the new SEC approach crucial for the crypto industry.

One month into Gary Gensler’s exit from the SEC, things now look different for the Commission and the broader crypto market. The industry’s regulatory setup seems to be changing to user expectations, after promises of a crypto-friendly regulatory environment. 

A few notable events suggest the SEC is gradually moving toward the new US President’s goal. Still, it’s gradual, and pending regulatory cases may be treated individually, even if the results are similar. For instance, the SEC has reportedly agreed to dismiss the lawsuit against centralized exchange firm Coinbase.

According to Coinbase CEO Brian Armstrong, the dismissal is subject to approval from an SEC commissioner before the withdrawal is complete. However, he considers the potential withdrawal a big deal for the entire crypto industry and a crucial signal about cryptocurrency’s future.

Related: Ripple CEO Applauds SEC for Dropping Coinbase Lawsuit: Time for XRP to Shine?

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