The US Securities and Exchange Commission has closed its case against Coinbase
Date: 2025-02-28 Author: Oliver Abernathy Categories: BUSINESS
The US Securities and Exchange Commission (SEC) has officially closed its case against Coinbase, which is accused of operating without the required registration. The decision is related to personnel changes in the department’s leadership.
Acting SEC Chairman Mark Ueda noted that the department needs to reconsider its approach to regulating cryptocurrencies and create more transparent standards. He emphasized that the current policy needs to be adjusted to match the development of the industry.
For Coinbase, the lawsuit has become a key challenge in the issue of classifying digital assets and determining the requirements for registering exchanges. However, the final settlement of these aspects remains within the jurisdiction of the US Congress.
The closure of the case against Coinbase is part of the SEC’s new strategy aimed at reviewing previously initiated investigations against crypto companies. The regulator is similarly wrapping up proceedings against other platforms, including Robinhood and Uniswap.
The SEC initially filed a lawsuit against Coinbase in June 2023, accusing the platform of violating securities laws and operating without registration. In response, the exchange claimed that the regulator was exceeding its authority, and the company itself has repeatedly requested clarification on law enforcement practices in the digital asset sector.
The SEC representatives disputed Coinbase's arguments, stating that the exchange could not have been unaware of possible violations. As part of the trial, the platform demanded the disclosure of internal documents and correspondence from the regulator, including materials related to the decision to file a lawsuit.
