**SEC Dismisses Coinbase Lawsuit, Indicating a Positive Shift for Crypto Under Trump, Sparking Industry Enthusiasm**
In a significant turn of events, Coinbase announced on February 21, 2025, that the U.S. Securities and Exchange Commission (SEC) has agreed to dismiss its lawsuit against the company. This announcement, shared by Paul Grewal, Chief Legal Officer at Coinbase, through a series of posts on X, marks the conclusion of a contentious legal battle that had far-reaching implications for the entire crypto sector.
**The Exciting Announcement: “Case Dismissed”**
In his initial post on X, Grewal shared the two words that every defendant longs to hear: “Case dismissed.” He elaborated that, pending full Commission approval, the SEC would drop its case against Coinbase without any settlement or compromise, effectively rectifying what Coinbase views as an unjust action. This decision, Grewal emphasized, represents a victory not just for Coinbase but for the entire crypto industry.
“Case dismissed.” Two words that every defendant in every case yearns to hear. Today we can announce upon full Commission approval @SECGov is dropping our case. There will be no settlement or compromise– a wrong will simply be made right. 1/4 — paulgrewal.eth (@iampaulgrewal) February 21, 2025
In follow-up posts, Grewal outlined Coinbase’s ongoing commitment to advocating for legislative clarity to prevent similar regulatory overreach in the future. He underscored the importance of collaboration with Congress and SEC staff to establish clear rules that would enable the crypto industry to flourish in the United States. Grewal also expressed gratitude to Coinbase’s legal team, including lawyers from Wachtell and Sullivan & Cromwell, as well as Coinbase’s leadership, including CEO Brian Armstrong and Chief People Officer Emilie Choi, for their relentless efforts in navigating regulatory challenges.
Suffice it to say (as I know there are lots of impatient people, including me!), this SEC has shown a clear interest in moving on quickly (!) from the failed regulation by enforcement policies of the last Administration. https://t.co/e2Rj9NUiDF — Brad Garlinghouse (@bgarlinghouse) February 21, 2025
The dismissal, confirmed to be “with prejudice” in response to a follow-up question from Matthew Niemerg on X, means the SEC cannot refile the same case against Coinbase. This development has been met with widespread congratulations from industry figures like Brad Garlinghouse, CEO of Ripple, and Fred Thiel, Chairman and CEO of Marathon Digital Holdings, highlighting the significance of this win for the crypto community.
SEC staff have agreed to dismiss their case against us (pending Commission approval). But this isn’t the end. It’s the beginning. And if there were ever a time to build—that time is now. Thank you to everyone who stood with us, and stood with crypto. pic.twitter.com/gjokUZPotz — Coinbase (@coinbase) Feb 21, 2025
