The U.S. Securities & Exchange Commission filed a joint stipulation with Coinbase Inc. and Coinbase Global Inc. to dismiss its ongoing civil enforcement action against the two entities, citing the pending work of its Crypto Task Force to develop a comprehensive and clear regulatory framework for crypto assets. Acting Chairman Mark T. Uyeda said the Commission’s crypto views have largely been expressed through enforcement actions without engaging the general public and that the agency aims to develop crypto policy in a more transparent manner. The SEC emphasized that the dismissal reflects an exercise of discretion to facilitate a reformed regulatory approach to the crypto industry, not an assessment of the merits of the claims, and the stipulation states the decision does not reflect the Commission’s position on any other case. The Cyber and Emerging Technologies Unit will continue pursuing misconduct that misuses innovation to harm investors, including fraud involving blockchain technology and crypto assets.
U.S. Securities & Exchange Commission 2025-02-27
U.S. Securities & Exchange Commission moves to dismiss civil enforcement action against Coinbase in light of Crypto Task Force work
The U.S. SEC has dismissed its civil enforcement action against Coinbase Inc. and Coinbase Global Inc., citing its Crypto Task Force's work on a regulatory framework for crypto assets. Acting Chairman Mark T. Uyeda emphasized transparency in crypto policy development. The SEC stated the dismissal is strategic for reforming regulatory practices, not a judgment on the case's merits, and confirmed its Cyber and Emerging Technologies Unit will continue addressing misconduct in the crypto sector.