The United States Securities and Exchange Commission (SEC) announced on Thursday its decision to drop its civil enforcement action against Coinbase Inc. and Coinbase Global Inc., confirming the previous report.
In the statement, SEC Acting Chairman Mark T. Uyeda explained that dismissing the case came amid the formation of the Crypto Task Force with the goal to "rectify" the agency's "approach and develop crypto policy in a more transparent manner."
The SEC filed the lawsuit in 2023, claiming that Coinbase illegally merged three services usually run separately on cryptocurrency exchange platforms, brokers, exchanges, and clearing agencies.
