In an Exciting Development, SEC Drops Case Against Coinbase Without Penalties

Yesterday, Coinbase CEO Brian Armstrong announced in a post that his company had come to an agreement with the US Securities and Exchange Commission to dismiss the regulator’s legal action against the exchange. This news has sparked enthusiasm within the crypto community, with Ripple CEO Brad Garlinghouse also expressing excitement over the development. Garlinghouse believes that the SEC is swiftly moving away from the flawed regulatory policies of the past. Let’s delve deeper into the details!

SEC Drops Case Against Coinbase Without Penalties

Back in 2023, the US SEC had initiated legal action against Coinbase, accusing the exchange of violating laws by offering investments without proper registration. However, Armstrong revealed in his post that the SEC has agreed to drop the case against Coinbase. Importantly, the settlement agreement does not require Coinbase to pay any fines or make any operational changes.

It is worth noting that the SEC has not issued a public statement regarding this development.

Brad Garlinghouse Reacts to the SEC’s Decision

Brad Garlinghouse, a prominent figure in the cryptocurrency industry, has also shared his enthusiasm about the SEC’s decision. He views this as a positive step towards moving away from the restrictive regulatory framework of the past.

Could Ripple Be Next? Analysts Weigh In

Legal experts, including attorney Jeremy Hogan and former SEC official John Reed Stark, have made predictions about potential future actions by the SEC. Hogan believes that the SEC may make significant moves in the near future, while Stark has forecasted that the SEC’s lawsuit against Ripple could be withdrawn soon.

Hogan has expressed support for Stark’s prediction. The SEC recently filed its opening brief against Ripple in a legal proceeding, with Ripple having until April 16 to submit its cross-appeal brief.