Coinbase says the Securities and Exchange Commission has agreed to dismiss its case against the cryptocurrency platform, pending commission approval
ByMICHELLE CHAPMAN AP business writer
February 21, 2025, 9: 34 AM
Coinbase says the Securities and Exchange Commission has dismissed its case against the cryptocurrency platform, pending commission approval.
Shares rose 3% at the opening bell Friday, though the decision, not confirmed by the SEC, would not be unexpected. The Trump administration has projected a much more lenient stance on cryptocurrency markets.
The SEC declined to comment Friday.
The crypto industry spent heavily to help elect Trump and other crypto-friendly lawmakers and is eager to cement its influence in politics and mainstream financial systems.
In June 2023 Coinbase was targeted by U.S. regulators in a lawsuit that alleged it was operating as an unregistered securities platform and brokerage service.
In its complaint, the SEC said Coinbase made billions acting as the middle man for cryptocurrency buyers and sellers but did not give i