SEC dismisses lawsuit against Coinbase
The US SEC has officially filed a voluntary dismissal in its case against Coinbase. The agency has also dropped lawsuits against Consensys, Robinhood, and Gemini in recent days.
The US Securities and Exchange Commission has officially dismissed its lawsuit with Coinbase on Feb. 27, filings show, ending the case permanently. The exchange announced an agreement to end the legal dispute on Feb. 21.
”It is hereby stipulated and agreed by and between the parties and/or their respective counsel(s) that the above-captioned action is voluntarily dismissed, with prejudice against the defendant(s),” a Feb. 27 SEC filing stated.
Source: Inner City Press
The SEC sued Coinbase in June 2023 amid a torrent of litigation attempting to frame many crypto firms and projects as either unregistered securities brokers or securities in and of themselves, placing heavy regulatory and financial pressure on the industry.
The SEC’s decision to drop Coinbase’s lawsuit follows earlier ones from Consensus, Robinhood and Gemini and Uniswap earlier this week.
This is a developing story, and further information will be added as it becomes available.
