The Securities and Exchange Commission has agreed to drop its legal case against Coinbase, the exchange said Friday, pending approval by the regulator’s commissioners. But it’s just one of several actions the agency has taken since the inauguration of President Donald Trump to deepen its crypto-friendly tone shift.
Coinbase CEO Brian Armstrong said Friday that the SEC had agreed to end its lawsuit against the trading platform. The regulator will not fine the largest U.S. crypto exchange by daily trading volumes when it kills the case, Armstrong added, assuming that the plan is approved.
The abandonment of the lawsuit, which posed broader implications for the future of the digital asset industry in the U.S., is among the most recent signals that federal regulators are softening their stance on digital assets under the new administration.
On the campaign trail, the pro-crypto Trump vowed to push the SEC to end its crypto crackdown and amplify more tech-friendly voices on Capitol Hill. Now we’re seeing that plan in action, though it’s still early days for the SEC’s turnaround.
New task force and more
In fulfilling those promises, Trump last December
