In an X post released yesterday, Coinbase CEO Brian Armstrong said his company had reached an agreement with the Securities and Exchange Commission to remove regulatory legal action against the exchange. I insisted. Armstrong’s post created excitement for the crypto community. Ripple CEO Brad Garlinghouse responded enthusiastically to the post. He notes that the SEC is moving away from past flawed policy frameworks. For more information, dive in!
SEC drops cases against Coinbase without penalty
It was in 2023 that the US SEC originally launched legal action against Coinbase. US regulators alleged that Coinbase violated the law by providing investments without registering properly.
In the post, Armstrong said the SEC agreed to reject legal action against Coinbase. Coinbase CEO specifically noted that the settlement agreement does not require the exchange to pay a fine or make changes to the mechanism.
Interestingly, the SEC has not yet issued an official statement regarding the development.
Brand Girling House responds to SEC decisions
Brand Girlinghouse is one of the key cryptocurrency business leaders who have stepped forward to express their excitement about development.
Garlinghouse appears to view this as a sincere effort to distress the framework of previous administrations’ oppressive regulatory policy.
Will Ripple be next? Analyst weight
Attorney Jeremy Hogan predicts that the SEC may make a big move in the near future.
In particular, former SEC official John Reed Stark predicts that the SEC lawsuit against Ripple could soon be withdrawn.
Hogan also supports the predictions made by Stark.
The SEC recently submitted an opening brief to Ripple in legal proceedings. Crypto companies will be required to submit their cross-appeal briefs until April 16th.
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