GuShiio.com GuShiio.com has learned that Securities and Exchange Commission (SEC) staff have agreed in principle to drop the enforcement lawsuit against Coinbase, a decision that still requires commission approval. Coinbase said the case should not be filed and the SEC had previously approved its listing. The SEC is expected to hold a formal vote on the matter next week.
Coinbase CEO Brian Armstrong said we reached an agreement with SEC staff to drop their lawsuit against Coinbase. Once approved by the committee (which we were told would be approved next week), this will be a full revocation with a penalty of $0 and no changes will occur to our business. The SEC made it clear to us that the only way to avoid litigation is to remove many of the assets they falsely claim to be securities from the market.
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