Friday saw Coinbase declare that, subject to the commissioners’ agreement, the Securities and Exchange Commission has decided to withdraw its enforcement case against the business. In premarket trading, Coinbase’s stock increased 4%.
Coinbase was accused by the SEC in 2023 of running an unregistered securities exchange and neglecting to properly register its cryptocurrency staking program.
But it was former SEC Chair Gary Gensler who initiated the case.
Under President Donald Trump and current SEC chair nominee Paul Atkins, the commission is anticipated to adopt a more pro-crypto posture.
Source (CNBC)
