Coinbase’s CEO Brian Armstrong announced that the company will not pay any fine following an agreement with the Securities and Exchange Commission (SEC). The decision comes as part of a regulatory shift under President Donald Trump, who has expressed support for the crypto industry. In 2023, the SEC charged Coinbase with operating an unregistered securities exchange and failing to register its crypto staking program.
However, under new leadership, including President Trump’s nominee for SEC chair Paul Atkins, the commission is expected to take a more favorable stance towards cryptocurrencies. Armstrong stated that the agreement marks “a huge day” for Coinbase and the industry, signaling potential regulatory clarity in America.
The move has been seen as a positive development for crypto exchanges and digital asset firms, which have pushed for new rules governing the industry. The SEC’s decision follows President Trump’s executive order to establish a working group to draw up a regulatory framework for cryptocurrencies.
Despite the positive news, Coinbase’s shares saw an initial surge before closing down 8% amid a broader market sell-off.
Source: https://www.cnbc.com/2025/02/21/coinbase-says-the-sec-has-agreed-to-end-enforcement-case-against-crypto-exchange.html