The state of Vermont has finally closed its legal case against Brian Armstrong-led Coinbase, signaling a shift in the approach to cryptocurrency regulation.
US States Hit Coinbase With Multiple Lawsuits
Vermont was one of the 10 US states that sued Coinbase in 2023 for allegedly offering unregistered securities. States like Kentucky, California, and New Jersey were also involved. In March, Vermont authorities decided to withdraw the case.
SEC Drops Litigation Against Coinbase; Launches Crypto Task Force
The US Securities and Exchange Commission (SEC) dropped its lawsuit against Coinbase. A new crypto task force will focus on establishing clear regulatory standards.
What Else Is the SEC Doing About Crypto Regulation?
The SEC is preparing to withdraw a controversial proposal requiring certain crypto firms to register as exchanges. This could greatly benefit crypto firms.
The closure of the case against Coinbase indicates a move towards clearer regulation of the US crypto industry.
