TL;DR

The SEC has agreed to withdraw its lawsuit against Coinbase, marking a major victory for the crypto industry and a shift in U.S. regulation.
The decision still requires approval from an SEC commissioner, but it is expected to be ratified next week without penalties for Coinbase. 
The crypto market reacts positively, with BTC price at $97,827 (+0.70%) and ETH at $2,751 (+0.75%), while other assets such as SOL also show increases.

The U.S. Securities and Exchange Commission (SEC) has decided to drop its lawsuit against Coinbase, in what is considered one of the biggest legal victories for the cryptocurrency industry. The company had been accused of operating as an unlicensed securities broker, but after a fierce legal battle and political pressure, the SEC has chosen to abandon the case. This decision still needs to be approved by a commissioner from the regulatory agency, but all indications suggest it will be a smooth process. Brian Armstrong, CEO of Coinbase, called this outcome a clear sign that the crypto industry is here to stay.

Impact on the Market and the Industry 

The announcement has triggered an immediate reaction in the markets. Bitcoin (BTC) is trading at $97,827 with a +0.70% variation in the last 24 hours, while Ethereum (ETH) has risen +0.75% to $2,751. However, XRP has dropped -2.14%, settling at $2.63. Other assets like BNB and Solana have also seen gains of +1.28% and +1.05%, respectively. Dogecoin (DOGE) has recorded an increase of +0.84%, reaching $0.2550, while Cardano (ADA) and Tron (TRX) have advanced +1.62% and +1.42%, reaching $0.8020 and $0.2447, respectively. The news strengthens confidence in the industry, as it removes one of the biggest regulatory risks facing exchanges in the U.S.  

Coinbase Leads the Pro-Crypto Movement  

Since the SEC filed the lawsuit in June 2023, Coinbase has been at the forefront of the regulatory battle, mobilizing resources to influence U.S. policy. Through initiatives such as the Fairshake PAC and the Stand With Crypto organization, the company has worked to ensure that the sector has a strong voice in Washington. Coinbase’s victory comes at a time when the U.S. administration appears more open to blockchain-based financial innovation, signaling a more optimistic future for cryptocurrencies.  

The impact of this resolution extends beyond Coinbase. Robinhood, another key player in the industry, has seen an increase in its stock price following the news, while overall market sentiment remains bullish. With the lawsuit dismissed, the crypto industry in the U.S. can move forward with greater clarity and less regulatory pressure, solidifying its position in the global financial ecosystem.  

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Filed under: News - @ February 21, 2025 4:23 pm