Shortly after the lawsuit pause between the SEC and Binance, the US regulator is planning to withdraw its litigation against another crypto exchange giant \u2013 Coinbase.<\/p>\n
The decision to fully dismiss the case still has to be approved by the Commission, but Armstrong believes it will be done as early as next week.<\/p>\n
The hostile Biden administration, led by Gensler\u2019s SEC, went after numerous crypto companies in the past few years, especially following the loud demise of FTX. In the summer of 2023, the country\u2019s securities regulator launched numerous lawsuits against digital asset companies, including two back-to-back litigations against Binance and Coinbase<\/a>.<\/p>\n The former\u2019s case was paused a few weeks ago, and earlier today, Coinbase\u2019s CEO, Brian Armstrong, celebrated an upcoming resolution for their own lawsuit. He said on X that after \u201cyears of litigation, millions of your taxpayer dollars spent, and irreparable harm done to the country, we reached an agreement with SEC staff to dismiss their litigation against Coinbase.\u201d<\/p>\n The exec noted<\/a> that the decision has to be approved by the Commission, but he had received internal information that this could occur next week. Once that becomes official, it would mark the case\u2019s full dismissal, with \u201c$0 in fines paid and zero changes to or business.\u201d<\/p>\n \u201cThey were exceeding the authority given to them by Congress by asking us to delist a number of assets that were not securities. We had taken a conservative approach to ensure we weren\u2019t listing any securities, and the SEC itself had allowed us to go public in 2021 after reviewing our listing standards in depth,\u201d continued Armstrong.<\/p>\n Coinbase\u2019s leader also gave credit to the Trump administration for winning the 2024 presidential elections, as well as for the \u201cdeparture of the activist head of the SEC, Gary Gensler, who orchestrated this unlawful action along with Elizabeth Warren, and a handful of their lackeys in Congress.\u201d<\/p>\n The upcoming end to the Coinbase lawsuit, as well as the good news<\/a> for Binance, brought hope to the XRP army. Many X users questioned whether the SEC\u2019s longest lawsuit against a big crypto company could also end soon. Recall that the regulator sued Ripple back in December 2020, and the case is still open, even though the latter secured some vital wins in the past few years.<\/p>\n For now, though, there\u2019s no actual information suggesting that the lawsuit<\/a> between the SEC and Ripple will be dismissed or even paused anytime soon.<\/p>\n The post Coinbase CEO Boasts About SEC Lawsuit Dismissal \u2013 Is Ripple Next?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Shortly after the lawsuit pause between the SEC and Binance, the US regulator is planning to withdraw its litigation against another crypto exchange giant \u2013 Coinbase. The decision to fully dismiss the case still has to be approved by the Commission, but Armstrong believes it will be done as early as next week. Coinbase Lawsuit […]<\/p>\n","protected":false},"author":0,"featured_media":46620,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-46619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/46619"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46619"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/46619\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/46620"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Can Ripple Benefit Next?<\/h2>\n