Coinbase was released from his long legal battle against the American Commission for Securities and Exchange when the Agency agreed to abolish the case that was among the main battles of industry before the Federal Court.
Although the SEC intention to accept to close the legal dispute has already become public when the US Crypto Exchange announced the agreement last week, the commissioners had to vote official to ask a federal judge to launch the switch. The dismissal was carried out in such a way that the regulator cannot change their mind later.
“It is time for the Commission to rectify its approach and to develop a cryptographic policy in a more transparent way,” said the acting president of the SEC, Mark Uyeda, in a statement. SEC lawyers have already filed a request in rejection of the case
The abolition of this main case does not release the dry of other legal questions from Coinbase, including the petition of the company to force the agency to establish cryptography rules and the continuation by Coinbase of internal documents in the work during the exchange to reveal the private deliberations of the regulator on how to approach digital assets.
But this case of application was the main legal concern of the American public company, and it sought to raise the central legal issues of what makes cryptographic security and when (and how) an exchange of digital assets should register with the agency. These fundamental questions are still awaiting answers which must now be provided by the US Congress.
Once the previous management of the SEC has left – in particular the skeptical president of the crypto, Gary Gensler – the temporary president raised by President Donald Trump, Mark Uyeda, began to revise the legal officials of the agency and its position on digital assets. Uyeda appointed her colleague Republican Commissioner Hester Peirce to manage the agency’s crypto working group, and the two were vocal criticism of the way people have approached the industry.
The digital asset sector did not have to wait for the confirmation of Paul Atkins, the choice of Trump to constantly manage the agency. Uyeda and Peirce were his advice when he was a dry commissioner, so they should be widely planned on a course he will maintain. Until now, this course has seen a wave of abandoned cryptographic surveys and has abandoned the cases, especially against Robinhood, Gemini and Metamask of consensys, and breaks of questions involving Tron and Binance.
The regulator no longer maintains the interpretation of the so-called US Supreme Court test which, he said, said that many cryptographic projects are qualified as titles.
The modified point of view of the dry on Coinbase, which Coindesk was the first to report last week, will cause the exchange to his accent on Congress and Legislation, the chief legal director of Paul Grewal told Coindesk. The company is one of the digital asset companies that led the creation and deployment of PAC Fairshake in the 2004 elections, collectively devoting more than $ 160 million to an effort to elect cryptographic friendly candidates. Now Coinbase is looking to return on investment with the regulations he considers favorable.
The FAIRSHAKE PAC, which rocked the world of campaign finance with its expenditure levels on the disproportionate company, is still in it, by twisting the special elections while it is preparing for cycle 2026.
Read more: dry about to drop the Coinbase trial, marking a big moment for us crypto
