The American Securities and Exchange Commission (SEC) was an enemy for the crypto sector before the arrival of Donald Trump as president of the United States. This is changing rapidly, which is also apparent from the new decision to drop the lawsuit against Coinbase. Affairs against Consensys, Robinhood and Gemini have also stopped.
Coinbase no longer needs to worry
On 27 February the SEC decided to drop the lawsuit against Coinbase and Coinbase Global on a voluntary basis. It was a case that was brought against the CEO exhibition platform and founder Brian Armstrong in June 2023.
This notification comes from the SEC, after the two parties already reached agreement on 21 February to drop the conflict.
From the SEC there was also commentary on this decision, which we think we should see in the context of attempts to reform and renew his approach to the crypto industry.
Under former chairman Gary Gensler, the SEC was a kind of police officer who was looking for the attack in all sorts of ways. Now it wants to create more clarity before the new attacks begins. Only if it is clear that things go wrong, and not at a time when the rules are not clear at all.
A victory for the crypto world
We can safely state that this new approach of the SEC is a victory for the crypto sector. As a result, the sector will in any case remain a bit in the shelter in this area and can develop further.
In principle, that fits in with the policy that we can expect from a businessman like Donald Trump. The disadvantage is that with this, scammers may also get even more free job to do what they want, for example, the Memecoin scandals of recent times.
The industry had been suffering from this for some time, and in that regard it was always strange to see that parties such as Coinbase had a hard time, while scammers launching their own currency and thousands of investors duped everywhere.
It is of course also difficult for a supervisor to tackle all those small projects, but it would still be nice if there was a solution for that. If they can act harder against that, because that seems like a big source of misery within the crypt world at the moment.
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Source: https://newsbit.nl/sec-legt-rechtszaak-tegen-coinbase-neer/
