A huge development for crypto industry over here Coinbase announced that the U.S. Securities and Exchange Commission (SEC) is prepared to dismiss its suit against the exchange. This marks a regulatory departure from the Trump administration, which has committed to building a friendlier crypto landscape.
A Coinbase CEO Brian Armstrong lauded the move as what he called “the first step in regulatory clarity,” saying, “This is done done — finally turning a page of persecution on this industry. Recent lawsuit filed during Biden administration alleging that Coinbase was an unregistered securities broker. So far the SEC has not formally voted on this dismissal.
While the agency declined to comment on the Coinbase statement, the announcement follows former President Donald Trump’s campaign pledge to repeal cryptocurrency regulatory crackdowns. Trump has repeatedly advocated for the U.S. to be known as “the digital currency capital of the world” 
Coinbase shares spiked 5% in pre-market trading after the news, Bitcoin was trading up.
That all aside, the lawsuits brought by the SEC against Binance and Kraken are both still live. Brian Armstrong lambasted the previous administration’s approach to regulation, calling it “legalese made real” for compliance. He added that regulators should never write new laws right out of thin air but must enforce the ones that exist.
The crypto landscape is anticipating for more clarity and this is a big deal in both sides of the digital asset regulation fight in US
