The SEC dismisses its lawsuit against Coinbase, signaling a shift in U.S. crypto policy under the Trump administration’s pro-industry approach.
SEC Ends Legal Battle with Coinbase
The U.S. Securities and Exchange Commission (SEC) has officially dropped its lawsuit against Coinbase, marking a major shift in regulatory policy under President Donald Trump’s administration.
The lawsuit, initiated in 2023 by former SEC chairman Gary Gensler, accused Coinbase of allowing trading of unregistered securities.
Regulators Criticize Enforcement-Driven Crypto Policies
SEC Commissioner Hester Peirce opposed the lawsuit, stating, “I did not support the action against Coinbase. Among other things, I was concerned that it was part of the Commission’s larger strategy to use its enforcement tool to regulate the crypto industry.”
Coinbase Welcomes the Decision
Coinbase Chief Legal Officer Paul Grewal had predicted the lawsuit’s dismissal, calling it a step toward “righting a major wrong.”
He also urged lawmakers to pass clearer regulations to boost U.S. leadership in crypto and attract capital inflows.
Trump’s SEC Reshapes Crypto Regulation
Since taking office, Trump’s administration has established a crypto task force, downsized enforcement units, and paused certain lawsuits, including a case against Binance.
The regulatory shift comes ahead of the confirmation of Paul Atkins, Trump’s nominee to lead the SEC, whose consulting firm has worked with crypto firms.
Industry Expects Further Pro-Crypto Reforms
With a more favorable regulatory climate, the crypto sector anticipates fewer enforcement actions and a clearer framework for digital assets moving forward.
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