Cryptocurrency Exchange Coinbase said that the American Securities and Exchange (SEC) commission planned to delete legal action against the cabinet.
The American regulator allegedly allegedly alleged that Coinbase had violated the laws by offering investments subject to its rules, without registering properly.
His boss Brian Armstrong declared in an article on X on Friday that a “agreement” had been concluded with the staff of the regulator to reject the legal action which would see him not paying any fine or making modifications to his operation, when It is confirmed.
A SEC spokesperson refused to comment.
His trial accused the cabinet of operating illegally in the United States, taking the services of being an exchange, a broker and a compensation agency without registering for these functions, as required by law.
He said that the exchange also offered cryptographic assets that he was considered “unregistered titles”.
“Since at least 2019, Coinbase has won billions of dollars illegally facilitating the purchase and sale of cryptographic asset titles,” he said in June 2023.
The regulator said it meant that people buying or selling these financial products were deprived of “important protections”.
He was part of a broader repression against cryptocurrency companies that President Donald Trump is committed to reverse if she was elected during his campaign in 2024.
Writing on X, Mr. Armstrong said that the potential rejection of the SEC trial – which was not confirmed by the regulator – was “considerably justified”.
His long post thanked President Trump for winning the elections and praised the role of “the cryptographic voter” by helping to win his victory.
“I want to make a cry to all crypto holders in the United States who elected Pro-Crypto candidates, on both sides of the aisle, to make sure that your rights were kept,” he wrote .
“It turns out that the Crypto voter is real and appeared in the millions.”
His post also struck the former president of the SEC, Gary Gensler, who directed his more difficult implementing measures against crypto exchanges until he retired in January.
Mr. Gensler had previously filed a similar case against Binance, the largest scholarship in the world allowing merchants to buy and sell digital assets, which recently obtained a 6 -day break by dry in the midst of American regulations.
Trump also sought to call on businesses and cryptographic investors during his campaign saying that he would smell the “first day” of his presidency.
Coinbase legal director Paul Grewal also wrote on X that “there will be no regulations or compromises – a wrong will simply be well done”.
“We will not stop fighting before we have the clear rules necessary to allow the industry to truly prosper in the United States,” he said, echoing Mr. Armstrong’s call to legislation to help stimulate the cryptocurrency sector.
“We look forward to working with the Congress and the SEC staff on this next phase of progress,” he added.
