This week, the crypto community can finally breathe a sigh of relief. The SEC has decided to drop its case against Coinbase, which was accused of trading unregistered securities.
Coinbase's Victory: SEC's Decision
After months of legal battles, the U.S. Securities and Exchange Commission (SEC) decided to drop the charges against Coinbase. The case involved trading unregistered securities, including 13 tokens such as Cardano (ADA), Solana (SOL), and Polygon (MATIC). This decision still requires final approval from the Commission. Coinbase's CEO, Brian Armstrong, confirmed the news.
Cardano Creator's Reaction
Cardano's creator, Charles Hoskinson, did not hold back his thoughts on the potential resolution. He stated, "The healing has begun," which resonated with the crypto community.
Cryptocurrency Market: Immediate Reaction
The market reacted quickly. Following the news of the charges being dropped, Coinbase's stock (COIN) added 4.52% in pre-market trading. The Cardano token (ADA) also gained 2% in value within an hour of the news, currently trading at $0.81. Overall, the market mood remains cautiously optimistic.
Although questions remain about what the next steps will be, the SEC's current decision is seen as a positive sign for the entire crypto industry.
