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The SEC has dropped its lawsuit against Coinbase that claimed the cryptocurrency exchange operated illegally. This move validates Coinbase’s long-held position that they were “right on the facts and the law.”
Analysts see this development as part of a broader regulatory shift under Trump’s administration, which appears more crypto-friendly than Biden’s. While Coinbase shares rose following the announcement, Barclays analyst Benjamin Budish noted that investors had largely expected this outcome.
Coinbase is now pushing for legislation to provide “long-term certainty” for the crypto industry.
Despite this victory, challenges remain—10 states are still investigating Coinbase’s staking services, and questions linger about cryptocurrencies previously classified as securities by the SEC.
