SEC rejects a lawsuit against Crypto Exchange Coinbase

The US Securities and Exchange Commission rejected its lawsuit on February 27 with Crypto Exchange Coinbase, as the submissions end the case permanently.

The SEC approved all legal disputes that are globally connected to Coinbase and Coinbase with prejudices. This included the withdrawal from the first lawsuit in June 2023 and his application for in -depth complaint to the US Court of Appeal, as reported by a court report on February 27.

After the two parties have announced an agreement to terminate the legal dispute on February 21.

The SEC said that “the discharge will facilitate the ongoing efforts of the Commission to reform and renew their regulatory approach for the crypto industry.”

Under the former commission led by Gary Gensler, the SEC passed a strict approach to the regulation of crypto, in which Coinbase and other industry heavyweights were made with unexpected lawsuits.

“It is time for the Commission to correct its approach and to develop cryptopolitics more transparently,” said the acting chairman of the SEC, Mark Uyeda.

One day after US President Donald Trump was inaugurated on January 20, the SEC founded a Krypto -Sksk Force under the direction of SEC Commissioner Hester Peirce to support this new approach.

The SEC’s decision to make the complaint from Coinbase follows earlier of Consensys, Robinhood, Gemini, Uniswap and OpenSea last week.

Related: SEC, Justin Sun asks Richter to stay the case to examine the solution

Coinbase was sued by the SEC in June 2023, which claimed that Coinbase was never registered as a broker, National Securities Exchange or Clearing Agency, while the crypto platform had withdrawn the disclosure requirements.

The SEC claimed that Coinbase had listed over a dozen crypto token that were considered securities, including Solana (Sol), Cardano (ADA), polygon (pol) and Filecoin (Fil).

Coinbase, led by his Chief Legal Officer Paul Grewal, had busy the lawsuit from the start and described it as a regulatory overstream and struck the Commission for the submission of a lawsuit after the public list of the company at the NASDAQ exchange in April 2021.

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