Sec Vs’ Infinite Story Coinbase has an End

Yesterday, the Bag and Securities Commission (SEC) officially announced that it had dismissed an ongoing lawsuit against Coinbase. Commissioner Hester Perth, who already leads the agency’s cryptocurrency workgroup, one of her first communicases, commented that they would adopt a more open and positive position, and that current demands for companies in the sector would be reviewed. Little by little, many people are being fired or slowly rejected.

The dispute between the SEC and the exchange began in 2023 when government agencies sued the company and blamed it Illegal promotion of buying and selling of cryptographically active values. According to the agency, at the time when Gary Gensler was in charge of the time, Coinbase provided exchanges, corridors and compensation services, in accordance with the requirements of the regulations, without properly registering these functions with the committee. Gerbil Growal, who headed the entity’s compliance division at the time, said the company knew that the securities laws were applied to their activities, but still refused to comply with them.

The panorama has become increasingly complicated as committees and exchanges progressed in legal proceedings. A few months after demand was published, the North American Association (NASAA) presented documents supporting the SEC version. Among them, Coinbase’s actions have been guaranteed to put investors at unnecessary riskand that digital currency should be subject to the same regulations as other financial assets. In a letter signed by Vicente Martínez, the main NASA advisor, it was argued that “cryptography is not important or special,” and that the SEC can assume supervision in accordance with established laws.

By 2024, tensions in this legal battle had reached a shocking level. Coinbase representatives presented the documents before the US Court of Appeals, requesting the Bags and Securities Commission to establish clear and transparent parameters for the industry. They highlighted it from Coinbase The agency appears to be focusing on imposes excessive control on companies operating in cryptographic works.using ambiguous rules that caused confusion. The situation has become very strong, and some members of the exchange have now confirmed that the SEC is intended to “destroy the cryptocurrency industry.”

With Donald Trump returning to the US presidency, Things have begun to change. One of the first actions was the appointment of Republican leader McWeda, who was appointed interim president of the SEC – Paul Atkins’ nomination was resolved, but the candidate preferred the president to lead the agency in the long term. Weda is already known for his criticism of the offensive position Gary Gensler adopted for the cryptographic action division, and his arrival also officially created the creation of the CryptoCurrent Work Group, led by Commissioner Hester Perth.

According to the commissioner, her unit will be responsible for developing clear policies and promoting an environment where investors do not need to fear success. Perth sought patience and admitted that it would take time to reverse much of the committed excess, but he was confident that good results would be achieved in a reasonable amount of time, working with regulators and users. On top of that, He said some of the ongoing lawsuits against cryptocurrency companies will be reviewed.. This approach has begun to start materializing these days, with companies like UNISWAP and Robinhood celebrating the halt of the legal process.

Coinbase was no stranger to these celebrations. Just a few days ago, the company’s CEO, Brian Armstrong, announced that the SEC had informed him of his decision to leave the current complaint. Armstrong explained that the decision should be approved by the body commissioner, but he has high hopes for achieving a victory that has a major impact on the cryptocurrency industry. A week later, the Coinbase leader can now get official communications, and boast about the victory..

In an official SEC announcement, Mark Ueda confirmed the dismissal of the lawsuit and the agency guaranteed it. He continues to work to fix the wrong course he has followed in recent years.

In recent years, the Commission’s opinion on cryptocurrency has been expressed primarily through implementation measures, without involving the public… It’s time to rectify this approach and develop cryptocurrency policies more transparently. Cryptocurrency Workgroups are designed to do that.

Mark Weda, interim president of the SEC.

After years of legal and regulatory tensions, the end of this dispute suggests that Cryptographic adjustments take a more balanced and transparent course. As cryptocurrency workgroups progress through their tasks, they pave the way for a future where companies in the sector can operate more clearly and reliably, making them profitable for both investors and the industry as a whole. The battle is over, but the impact will continue to shape the sector for a fun time.