SEC dismisses lawsuit against crypto exchange Coinbase
The US SEC has filed a voluntary dismissal in its case against Coinbase. The agency has also dropped lawsuits against Consensys, Robinhood, and Gemini in recent days.
The US Securities and Exchange Commission has dismissed its lawsuit with crypto exchange Coinbase on Feb. 27, filings show, ending the case permanently.
The SEC agreed to voluntarily dismiss all litigation tied to Coinbase and Coinbase Global with prejudice, which included withdrawing from its initial June 2023 lawsuit and its request for an interlocutory appeal with the US Court of Appeals, a Feb. 27 court filing shows.
It comes after the two parties announced an agreement to end the legal dispute on Feb. 21.
Source: Inner City Press
The SEC said that “the dismissal will facilitate the Commission’s ongoing efforts to reform and renew its regulatory approach to the crypto industry.”
Under the former Gary Gensler-led commission, the SEC adopted a strict regulation-by-enforcement approach to crypto, which saw Coinbase and other industry heavyweights hit with unexpected lawsuits.
“It’s time for the Commission to rectify its approach and develop crypto policy in a more transparent manner,” said the SEC’s acting chair, Mark Uyeda.
