Coinbase, premier cryptocurrency exchange, announced on Friday that the Trump administration has agreed to dismiss a pivotal lawsuit with potentially profound implications for the crypto industry. This decision arrives amid the administration's commitment to deregulate digital assets such as bitcoin.
In June 2023, the Securities and Exchange Commission initiated legal action against Coinbase, alleging that the company operated as an unregistered broker mirroring a similar suit filed against Binance and claimed that the firm amassed billions by functioning as an exchange, broker, and clearing agency without the requisite registration.
Coinbase now anticipates that the SEC will ratify the dismissal in the coming week, sparing the company from any fines or penalties, and signaling a marked regulatory shift as Trump's nominee for SEC Chair, Paul Atkins, is expected to adopt a considerably more lenient oversight approach.
A little over a year ago, the outlook for Coinbase was grim. The exchange's stock languished, and a beleaguered crypto market struggled under intense governmental scrutiny. However, a bold political strategy transformed its fortunes.
By investing tens of millions in political contributions—including over $70 million to a pro-crypto super PAC and significant funding for initiatives such as Stand with Crypto—Coinbase effectively reshaped lawmakers' perceptions and galvanized industry support.
This aggressive lobbying not only reversed legal adversity but also fueled an extraordinary financial recovery, as evidenced by a dramatic surge in both market capitalization and transaction revenue.
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Business News
December 19, 2025 15:10 ET U.S. inflation data and interest rate decisions by major central banks were the highlights of this busy week for economics news flow. Employment data and survey results on the housing markets also gained attention in the U.S. In Europe, the European Central Bank and Bank of England announced their policy decisions and macroeconomic projections.