Cryptocurrencies
Coinbase Says SEC Is Close to Dismissing Enforcement Case
- Suit was part of crackdown under former Chair Gary Gensler
- Dismissal comes as Trump pushes crypto-friendly policies
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Coinbase Global Inc. said the Securities and Exchange Commission has agreed to drop its lawsuit that accused the largest US cryptocurrency trading platform of running an illegal exchange. The agreement is pending commissioner approval.
Coinbase shares jumped in premarket trading on Friday, only to reverse course and decline 4% to $246.30 as of 12:45 p.m. in New York. Bitcoin was down about 1% on the day at around $97,000.