Coinbase says the dry This accused him of illegally managed an exchange of non -registered securities. This could point out a major change in the way the US government will apply the cryptography market now that Trump is in office. The trial, has long considered an attempt to pass the cryptographic industry under the same rules for the protection of investors that govern shares and other titles.
Jamming On the grounds that he did not direct a securities company, comparing the products it sells to baseball cards. This call will soon be theoretical, assuming that the SEC officially votes to reject the prosecution. .
“It’s a great day for Coinbase and for the Crypto”, Paul Grewal, the legal director of Coinbase, . “We are committed to defending him at the gates of hell, as long as he took and for as much money as what it took.”
Coinbase co-founder and CEO Brian Armstrong And said the company will not pay a fine of any kind. He also said that the agreement to end the case marks a “huge day” for Coinbase and that it will lead to a “domino effect for the rest of the industry”. He also blamed the original costume on a “small group of activists in this previous administration”.
https://t.co/0iy0e7mc9q pic.twitter.com/hvsgpnpnzd
– Brian Armstrong (@brian_armstrong) February 21, 2025
This decision is not a huge surprise, given the recent embrace of President Trump of the crypto. He even has his own digital piece. To this end, the dry The special application unit which was devoted to the survey on cryptographic organizations. Coinbase and its rivals Throughout the electoral cycle to help elect Crypto-friendly legislators. It seems that the investment is bearing fruit.
The acting president Mark Uyeda recently declared that the “Deploy judiciously application resources” during the survey of cryptographic companies. He also declared that a new working group would move away from the previous approach of the Commission to the cryptography market.
Republican legislators in the Chamber and the Senate work on legislation that would reclaim cryptocurrencies as raw materials, according to The Wall Street Journal. This change would probably have the surveillance of cryptographic assets at the Commodity Futures Trading Commission, which is a much smaller agency than the dry. The CFTC is actually smaller than ever at the moment, given that the Trump administration Earlier this week.
The cryptography market certainly responds favorably to all these news. The price of Coinbase shares is increasing, and the same goes for Robinhood. Binance of the rival market itself This week, which was suspended in 2023 after the SEC continued the company for violation of securities laws.
This article originally appeared on Engadget at https://www.engadget.com/big-tech/coinbase-says-sec-has-ed-its-nforcement-se-against-the-crypto-company -171331785.html? SRC = RSS
