Key dealers
- SEC has dismissed its civilian enforcement measures against Coinbase through a common provision.
- Sec’s decision is in line with a transition to developing extensive regulations for crypto assets.
Sec today secluded Its civilian enforcement measures against Coinbase and Coinbase global through a common provision, which ended a legal battle that began in 2023.
Acting Chairman Mark T. Uyeda stated: “It is time for the Commission to correct its strategy and develop cryptop policy in a more transparent way. Crypto Task Force is designed to do just that. “
The original mood stated that Coinbase served as an unregistered securities exchange, broker and clearing agency, which facilitated Krypto access trading without proper registration since 2019.
Inner City Press reported the dismissal of X, to say: “Stipulation of voluntary dismissal It is hereby prescribed and agreed by and between the parties and/or their respective lawyer to voluntarily dismissed, with prejudice against the defendants.”
Just submitted, Sec v. Coinbase: Stipulation of voluntary dismissal It is hereby prescribed and agreed by and between the parties and/or their respective lawyer (s) that the above documents are voluntarily dismissed, with prejudice against the defendants (s) https://t.co/2l5GN5H5V7 pic.twitter.com/jfwqhguwsy
– Inner City Press (@innerCitypress) February 27, 2025
SEC claims that the dismissal supports its broader regulatory reform efforts and does not reflect on the merits of the original claims.
Critics that better markets suggested that this can be a “historical mistake” that benefits the crypto industry of strict enforcement.
#SecReported surrender in the trial against @Coinbase is a historical mistake. By promoting #crypto Industry of investors risks financial stability and repeats mistakes in 2008. The consequences will be catastrophic. https://t.co/kyiw2fk26d
– Better markets (@Bettermarkets) February 21, 2025
Sec’s termination is in line with its new focus on developing a comprehensive regulations for crypto assets through Crypto Task Force, established As late as January 21 2025.
SEC’s cyber and new technology unit (Ceptu) will continue to investigate potentially misunderstanding involving blockchain technology and crypto assets, according to the latest agency’s latest statement.
