SEC Set to Dismiss Coinbase Case as Crypto Regulation Shifts

• Enforcement action against Coinbase to be dismissed by SEC
• Originally, the SEC filed a lawsuit against Coinbase in June 2023
• The agency has also voluntarily dismissed its appeal concerning the application of broker-dealer regulations to DeFi platforms

As of today, the SEC has agreed in principle to dismiss its enforcement case against Coinbase exchange. The decision is pending approval from the SEC’s commissioners, expected to take place next week.

Initially, in June 2023, under the leadership of then-Chair Gary Gensler, the SEC filed a lawsuit against Coinbase, accusing it of operating as an unregistered securities exchange, broker, and clearing agency. 

The SEC claimed Coinbase facilitated trading in at least 13 crypto tokens considered securities without proper registration.

Coinbase consistently refuted the SEC’s allegations, asserting that its business model had been transparent and previously reviewed by the SEC during its public listing process in April 2021. The company noted that no major changes have occurred in its operations to justify the legal action.

SEC’s Expanded Enfo…

The post SEC Set to Dismiss Coinbase Case as Crypto Regulation Shifts appeared first on Coin Edition.