{"id":1221447,"date":"2025-02-21T12:13:31","date_gmt":"2025-02-21T17:13:31","guid":{"rendered":"https:\/\/www.prime-wow.com\/?p=1221447"},"modified":"2025-02-21T12:13:31","modified_gmt":"2025-02-21T17:13:31","slug":"coinbase-says-trumps-sec-has-ended-its-enforcement-case-against-the-crypto-company","status":"publish","type":"post","link":"https:\/\/www.prime-wow.com\/?p=1221447","title":{"rendered":"Coinbase says Trump\u2019s SEC has ended its enforcement case against the crypto company"},"content":{"rendered":"
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Coinbase says that the SEC has agreed to end an enforcement case<\/ins><\/a> that accused it of illegally running an unregistered securities exchange. This could signal a major change in how the US government will enforce the crypto market now that Trump is in office. The lawsuit, which was filed during the Biden administration<\/ins><\/a>, has long-been considered an attempt to bring the crypto industry under the same investor-protection rules that govern stocks and other securities.<\/p>\n

Coinbase had been fighting the lawsuit<\/ins><\/a> on the grounds that it didn\u2019t run a securities company, likening the commodities it sells to baseball cards. That appeal will soon be moot, assuming the SEC officially votes to dismiss the suit. This should happen next week<\/ins><\/a>.<\/p>\n

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\u201cIt\u2019s a great day for Coinbase and for crypto,\u201d Paul Grewal, Coinbase\u2019s chief legal officer, told <\/ins>The Wall Street Journal<\/ins><\/em><\/a>. \u201cWe were committed to defending it to the gates of hell, for as long as it took and for as much money as it took.\u201d<\/p>\n

Coinbase co-founder and CEO Brian Armstrong went on CNBC\u2019s <\/ins>Squawk Box<\/ins><\/em><\/a> and said that the company will not be paying a fine of any kind. He also said the agreement to end the case marks a \u201chuge day\u201d for Coinbase and that it will cause a \u201cdomino effect for the rest of the industry.\u201d He also blamed the original suit on a \u201csmall group of activists in this prior administration.\u201d<\/p>\n

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https:\/\/t.co\/0iY0E7Mc9q<\/a> pic.twitter.com\/hVsGpnpNZd<\/a><\/p>\n

\u2014 Brian Armstrong (@brian_armstrong) February 21, 2025<\/a><\/p><\/blockquote>\n<\/div>\n

This move doesn\u2019t come as a huge surprise, given President Trump\u2019s recent embrace of crypto. He even has his own digital coin. To that end, the SEC has already started to break up<\/ins><\/a> the special enforcement unit that was devoted to investigating crypto organizations. Coinbase and its rivals spent millions of dollars<\/ins><\/a> throughout the last election cycle to help elect crypto-friendly lawmakers. It looks like that investment is paying off.<\/p>\n

Acting SEC Chairman Mark Uyeda recently said that the organization would now<\/ins><\/a> \u201cdeploy enforcement resources judiciously\u201d when investigating crypto companies. He also said that a new task force would be moving away from the commission’s previous approach toward the crypto market.<\/p>\n

Republican House and Senate lawmakers are working on legislation that would reclassify cryptocurrencies as commodities, according to The Wall Street Journal<\/em>. This change would likely hand oversight of crypto assets to the Commodity Futures Trading Commission, which is a much smaller agency than the SEC. The CFTC is actually smaller than ever right now, given that the Trump administration laid off a bunch of employees<\/ins><\/a> earlier this week.<\/p>\n

The crypto market is certainly responding favorably to all of this news. Coinbase\u2019s stock price is up, and the same goes for Robinhood. Rival market Binance even restored fiat deposits and withdrawals<\/ins><\/a> this week, which were suspended in 2023 after the SEC sued the company for violations of securities laws.<\/p>\n

This article originally appeared on Engadget at https:\/\/www.engadget.com\/big-tech\/coinbase-says-trumps-sec-has-ended-its-enforcement-case-against-the-crypto-company-171331785.html?src=rss<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Coinbase says that the SEC has agreed to end an enforcement case that accused it of illegally running an unregistered securities exchange. This could signal a major change in how the US government will enforce the crypto market now that … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[99,44,110],"tags":[],"class_list":["post-1221447","post","type-post","status-publish","format-standard","hentry","category-engadget","category-technology","category-unfiltered-rss"],"_links":{"self":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/posts\/1221447","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1221447"}],"version-history":[{"count":0,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/posts\/1221447\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1221447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1221447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1221447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}