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The U.S. Securities and Exchange Commission (SEC) has reached an agreement to dismiss its lawsuit against crypto exchange Coinbase, pending approval by the regulator, according to the firm’s CEO Brian Armstrong.
In a tweet, Armstrong said that the agreement was “hugely vindicating,” accusing the regulator of having used “mafia tactics” while pursuing its lawsuit against the exchange.
Great news!
After years of litigation, millions of your taxpayer dollars spent, and irreparable harm done to the country, we reached an agreement with SEC staff to dismiss their litigation against Coinbase. Once approved by the Commission (which we’re told to expect next week)… pic.twitter.com/IlnoBs7N6n
— Brian Armstrong (@brian_armstrong) February 21, 2025
Armstrong added that the SEC was “wrong on the law,” and that its actions “could have killed the crypto industry in America.”
Coinbase Chief Legal Officer Paul Grewal tweeted that “there will be no settlement or compromise– a wrong will simply be made right.”
The SEC’s lawsuit against Coinbase
In June 2023, after having issued a Wells notice earlier that year,…
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