• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

SEC dropping crypto lawsuit, Coinbase says

by February 22, 2025
written by February 22, 2025

The largest U.S.-based cryptocurrency exchange said Friday that the Securities and Exchange Commission would drop its lawsuit against it, a signal that the Trump administration plans to take a friendlier approach to the broader crypto industry.

In a release it titled ‘Righting a major wrong,’ the exchange, Coinbase, said SEC staff had agreed in principle to dismiss a suit filed during the Biden administration. The suit accused Coinbase of acting as an unregistered securities broker.

The agency must still vote to formally drop the suit.

A representative for the SEC declined to comment on Coinbase’s announcement. 

‘I think it is a really important signal that a small group of activists in the prior administration who tried to unlawfully attack this industry — we are able to turn page on that and finally get regulatory clarity in America,’ Coinbase CEO Brian Armstrong said in an interview on CNBC on Friday morning.

Coinbase shares were up 5% in premarket trading. Bitcoin prices were up 1%.

The move to drop the suit would serve to make good on President Donald Trump’s campaign commitment to roll back the strict enforcement of the crypto industry that occurred under then-President Joe Biden. Trump has promised to make the United States the ‘crypto capital of the world,’ and has launched his own meme coin.

In its original suit, the SEC said Coinbase’s alleged actions were depriving investors of ‘critical protections, including rulebooks that prevent fraud and manipulation, proper disclosure, safeguards against conflicts of interest, and routine inspection by the SEC.’

“You simply can’t ignore the rules because you don’t like them or because you’d prefer different ones: the consequences for the investing public are far too great,” Gurbir S. Grewal, director of the SEC’s Division of Enforcement, said at the time.

To date, the SEC has not categorized bitcoin as a security. The crypto industry has long complained that, under former Chair Gary Gensler, the agency took an overly critical posture toward the industry while failing to provide clear ‘rules of the road’ and work with it to develop a means for it to operate legally.

Lawsuits against two other exchanges, Binance and Kraken, are still pending.

‘We tried to ‘come in and register’ but it turned out it was a fake offer, as every crypto company discovered,’ Armstrong wrote in a separate post on X on Friday, referring to the Biden administration’s previous actions concerning the crypto industry.

‘Regulators are supposed to enforce the law, but they can’t make up new laws on the spot if they don’t like the current ones, or weaponize a lack of clarity in the law.’

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Kash Patel takes reins at scandal-ridden FBI with ‘America always’ mindset: ‘Let good cops be cops’
next post
Remains of Shiri Bibas, mom of two killed, allegedly returned to Israel following Hamas’ broken promise

related articles

JPMorgan marks 1,000th branch opening since 2018 expansion...

August 1, 2025

Apple crushes Wall Street expectations as iPhone sales...

August 1, 2025

Ontario cancels internet deal with Musk’s Starlink as...

July 31, 2025

Trump ends de minimis exemption for global low-cost...

July 31, 2025

Recall warns some Celsius energy drink cans accidentally...

July 31, 2025

Union Pacific to buy Norfolk in $85 billion...

July 29, 2025

Things are getting better at Boeing under CEO...

July 29, 2025

Elon Musk confirms Tesla has signed a $16.5...

July 28, 2025

Palantir joins list of 20 most valuable U.S....

July 26, 2025

FCC greenlights Paramount’s $8 billion merger with entertainment...

July 25, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Starmer says UK to recognize Palestinian state if Israel doesn’t agree to ceasefire, Hamas must ‘disarm’

    July 29, 2025
  • Solana and Cardano: Cardano in lateral consolidation

    July 23, 2024
  • Trump heads to NATO summit as Europe agrees to heed his defense spending demands

    June 24, 2025
  • South Korean political unrest jolts Asian stocks, triggers market volatility

    December 4, 2024
  • Iran’s new president asserts right to retaliation in rare phone call with major US ally

    August 15, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,602)
  • Investing (634)
  • Stock (867)

Latest Posts

  • HOLLYWOOD ELITES FOR HARRIS: Celebs sign on for another tired, star-filled sequel

    October 14, 2024
  • Coca-Cola Stock: New Challenges Amid Market Shifts

    August 26, 2024
  • Obama urges Americans to ‘possibly sacrifice’ in resisting Trump policies

    April 4, 2025

Recent Posts

  • ‘Make Greenland Great Again’: Trump’s House GOP allies unveil bill to authorize country’s purchase

    January 13, 2025
  • Trump proclaims that ‘wokeness is dead,’ calls to permanently ban sex changes for minors

    March 5, 2025
  • Congress exposes China’s potential loophole for Trump tariffs: ‘Drawing a line in the sand’

    March 7, 2025

Editor’s Pick

  • Trump picks Dr. Marty Makary as Food and Drug Administration commissioner

    November 23, 2024
  • Under Armour shares surge 25% as company raises profit forecast on cost-saving strategies

    November 7, 2024
  • Trump expected to ‘soon’ appoint a Ukrainian peace envoy after promises of negotiating end to war with Russia

    November 13, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock