Coinbase has been freed from its protracted legal battle with the U.S. Securities and Exchange Commission as the agency agreed to drop the case that’s been among the industry’s core fights in federal court.
Though the SEC’s intention to agree to shut down the legal dispute had already gone public when the U.S. crypto exchange announced the deal last week, the commissioners had to cast a formal vote to ask a federal judge to throw the switch. The dismissal was done in such a way that the regulator can’t change its mind later.
“It’s time for the commission to rectify its approach and develop crypto policy in a more transparent manner,” SEC Acting Chair Mark Uyeda said in a statement. SEC lawyers already filed a motion to dismiss the case
Dropping this main case doesn’t free the SEC from other Coinbase legal matters, including the company’s petition to force the agency to establish crypto rules and Coinbase’s pursuit of internal…
