Coinbase celebrates a legal win as the SEC drops its case due to a change in politics.
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Coinbase, a platform for cryptocurrency, says the SEC has dropped its case against them. The SEC has not yet confirmed this, but it is not a surprise because the government has been more relaxed about cryptocurrency recently.
The SEC sued Coinbase in June 2023, saying they were acting like a broker without proper permission. They wanted Coinbase to pay back money, pay penalties, and stop doing these things.
Coinbase shared on social media that the case was dropped while waiting for final approval. They see this as a starting point and a chance to grow even more, thanking everyone who supported them.
Since Trump became president, the cryptocurrency world has had some success. For example, an accounting rule was removed and a group was formed to look into cryptocurrency rules.
Recently, the SEC also asked to pause a case against Binance, the biggest cryptocurrency exchange. This is because they are rethinking how they want to enforce rules in this area.
Questions
What did Coinbase say about the SEC case?
Coinbase said the SEC has dropped its case against them.
Why did the SEC sue Coinbase?
The SEC sued Coinbase because they were acting like a broker without proper permission.
What has happened to the SEC's case against Binance?
The SEC asked to pause the case against Binance as they are rethinking how to enforce rules.
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