The US Securities and Exchange Commission officially ended its lawsuit against Coinbase, permanently closing the case on February 27.
Case Background
The SEC sued Coinbase in June 2023, aiming to categorize some crypto companies as unregistered securities brokers, increasing regulatory scrutiny.
It is hereby stipulated and agreed by and between the parties and/or their respective counsel(s) that the above-captioned action is voluntarily dismissed, with prejudice against the defendant(s).
Agreement to End the Case
Coinbase announced the agreement to end the legal dispute on February 21. The case was officially closed on February 27, as confirmed by an SEC filing.
Context and Implications
The SEC's decision to drop Coinbase's lawsuit follows similar actions against Consensus, Robinhood, Gemini, and Uniswap, lessening regulatory pressure on the crypto industry.
This development may positively affect the perception and legal standing of crypto companies in the market.
