In a post X published yesterday, CEO of Coinbase, Brian Armstrong, said that his company had concluded an agreement with the Securities and Exchange Commission of the United States to abandon the legal action of the regulator for exchange. The Armstrong post has created excitement in the cryptographic community. The CEO of Ripple, Brad Garlinghouse, responded with enthusiasm to the post. He noted that the dry moves quickly from the defective political framework of the past. Let’s dive for more details!
Dry drop the case against the base of the base without penalties
It was in 2023 that the American sec initially initiated its legal action against Coinbase. The American regulation agency alleged that Coinbase had violated the laws by offering investments without registering properly.
In the position, Armstrong said that the SEC had agreed to reject legal action against Coinbase. The CEO of Coinbase specifically noted that the settlement agreement does not require the grant of fines or make changes to its operation.
Interestingly, the dry has not yet made a public declaration on development.
The Garlinghouse brand reacts to the dry decision
Brand Garlinghouse is one of the main business leaders of cryptocurrencies who came forward to express their enthusiasm for development.
It seems that Garlinghouse considers it as a sincere effort to move away from the framework of oppressive regulatory policy of the previous regime.
Could Ripple be the next one? Analysts weigh
Lawyer Jeremy Hogan predicted that the dry could take great strides in the near future.
In particular, the former SEC official, John Reed Stark, has planned that the SEC trial against Ripple could soon be withdrawn.
Hogan also supported the prediction made by Stark.
The SEC recently filed its opening memory against Ripple in legal proceedings. The crypto firm has until April 16 to submit its transverse memory.
