Coinbase and the U.S. Securities and Exchange Commission (SEC) have reached a preliminary agreement to dismiss the case filed by the SEC against the crypto exchange. The approval by SEC commissioners could be confirmed as early as next week.
Details of Coinbase's Agreement with SEC
Coinbase and the SEC have agreed to dismiss the lawsuit filed by the SEC against the crypto platform. This decision will become final upon approval by SEC commissioners and could be confirmed as early as next week.
Comments from Brian Armstrong
Coinbase CEO Brian Armstrong expressed optimism about the agreement, calling it a 'really good day' for the company and the broader cryptocurrency industry. He noted that this decision could set an important legal precedent after years of the SEC's attempts to regulate cryptocurrencies as securities. Armstrong highlighted the importance of pushing for clearer crypto regulations in the United States.
Impact on Ripple Case
This agreement sparks hope in the crypto community for a swift conclusion to the SEC’s long-standing lawsuit against Ripple. Ripple’s legal team recently requested an extension to file their response brief by April 16, 2025. Investigations are ongoing, with the SEC reportedly focusing on cases with imminent court deadlines, such as the Ripple and Kraken cases, with upcoming deadlines on April 16 and March 31, 2025, respectively.
The agreement reached between Coinbase and the SEC might be a significant step forward in cryptocurrency regulation and could impact other ongoing cases like the Ripple case.
