Coinbase was freed from its protected legal battle with the US Securities and Exchange Commission as agency agreed to drop the case That is among the main fights of the industry in the federal court.
Although the SEC’s intent to submit to close the legal dispute has been lost to the public when the US crypto exchange Deal announced last weekCommissioners will need to post formal vote to ask a federal judge to throw away the switch. The dismissal was done in such a way that the regulator could not change its mind later.
“It is time for the commission to correct its approach and develop a crypto policy in a clearer way,” Sec acting chair Mark Uyeda said in a statement. SEC’s lawyers filed a motion To delete the case
The collapse of this main case has not released the SEC from other legal coinbase, including the company’s petition to force the agency to establish crypto policies and Coinbase’s intent of internal documents on the ongoing exchange work to demonstrate private regulator consultations on how to approach digital assets.
But the case of this implementation is the leading legal concern for the US public company, and it seeks to raise central legal questions of what makes a crypto security and when (and how) a digital assets exchange should register with the agency. The key questions are still waiting for answers that the US Congress should now provide.
When the previous SEC leadership left -especially the crypto chair, Gary Gensler -the temporary chairman raised by President Donald Trump, Mark Uyeda, began to roam the agency’s legal officials and its stance on digital property. Uyeda named fellow Republican Commissioner Hester Peirce to run the agency’s Crypto Task Force, and they are both voice critics of the way Gensler approaches the industry.
The digital assets sector does not have to wait for Paul Atkins’ confirmation, Trump’s choice to permanently run the agency. Both Uyeda and Peirce served as his advice when he was a Commission on the SEC, so they were widely expected to be in a course he would maintain. So far, that course has seen a wave of abandoned crypto investigations and collapsed cases, including against Robinhood, Gemini and Consensys metamask, and stops things involving Tron and Binance.
The regulator no longer maintains the interpretation of the so -called Howey Test the US said crypto projects qualified as security.
The SEC’s changed view of Coinbase, which CoinDesk first reported last week, would cause an exchange to move Washington’s focus toward Congress and Law, legal official Paul Grewal CoinDesk said in a previous interview. The company is among the Digital Business Assets that leads the creation and expansion of the Fairshake PAC in the 2004 election, which together allocates more than $ 160 million in an effort to select candidates who are friendly in the office. Now Coinbase is seeking to get a return to investment with regulations that are considered desirable.
Fairshake PAC, which is trembling in the world of campaign processing along with corporate spending levels, is still inside, which dives into special elections as it prepares for the 2026 cycle.
Read more: Sec
