SEC to Dismiss Lawsuit Against Coinbase

The U.S. Securities and Exchange Commission (SEC) has agreed in principle to dismiss its lawsuit against Coinbase, pending Commissioner approval, marking a significant victory for the crypto industry. This decision reflects a shift in political leadership, with the Trump administration adopting a more crypto-friendly stance compared to the previous administration. Initially, the SEC had accused Coinbase of operating as an unregistered securities broker under Biden's leadership. Coinbase's Chief Legal Officer, Paul Grewal, highlighted that the SEC's reversal signifies a turning point for regulatory clarity in the U.S. crypto market. The announcement led to a 5% increase in Coinbase shares, indicating positive market reactions and potentially paving the way for broader regulatory reforms. This move aligns with President Trump's aim to lessen regulatory burdens and position the U.S. as the 'crypto capital of the world.'