The US Securities and Exchange Commission (SEC) drops a lawsuit against the best American crypto exchange, according to a new Coinbase blog post.
Coinbase says that the SEC “in principle” has agreed to reject her case with the approval of the Commissioner.
According to Coinbase, the lawsuit must be dropped as a “big victory for the rule of law”.
Coinbase says it has always complied with the SEC since he was made public in 2021. According to the top of the American crypto exchange by trade volume, political changes at the top of the SEC, however, have put forward an “illegal” lawsuit against the exchange in 2023. That lawsuit is now being withdrawn.
In a new interview with CNBC’s “Squawk Box”, Coinbase CEO Brian Armstrong doubles the statements of the stock market that the lawsuit was politically motivated.
“I think it’s a very important signal that, [after] A small group of activists in this earlier administration that tried to attack this industry illegally, we can turn the page on it and ultimately get some regulatory clarity in America …
I hope that they will honestly reject all fake cases and it will be a domino effect for the rest of the industry. “
The news comes one day after the SEC has announced the consolidation of his crypto unit in the newly created Cyber and Emerging Technologies Unit (CETU).
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