Coinbase on Friday He said SEC has agreed to drop the lawsuit against the company with bias, which means that it cannot be submitted again.
This step, which is still subject to the approval of the SEC Commissioners, is another indication that the Trump administration is planning to be more friendly to encryption more than the Supreme Education Council that the Supreme Education Council Gary Ginsler was.
SEC suitIt was presented in 2023, claiming that the encryption assets were securities and that Coinbase was working as an “non -registered national securities exchange, the mediator and the clearing agency.”
Coinbase, Controversy, In part of it, SEC has not set clear rules enough for encryption in order to prosecute its breaking.
“I remember in 2023, many people advised this and they said,” Do not participate in litigation with the Supreme Education Council; Tens of millions of dollars will cost you “Coinbase CEO In a video posted on X on Friday, announcing that the lawsuit was dropped. In the video, Armstrong also provided allegations about SEC motives and tactics.
Armstrong said he was fighting because he believed he was saving the encryption industry in America.
“Many companies have no deep pockets as we did,” he said. “In the end, we had to spend $ 50 million in defending this case” – proving those who reject the cost of the battle.
A spokesman for Coinbase explained that this amount includes precisely External legal feesIt is not the time of the employee.
Regardless of the apparent legal Coinbase, Armstrong said he still believes that the United States needs to “obtain legislation to pass Crypto” to write down favorable regulations, or risk clearing other countries.