The end of a court fight with the largest U.S. crypto company would be a big win for an industry that financially backed President Trump….
The S.E.C. sued Coinbase, the largest U.S. crypto company, in 2023 on the grounds that the digital currencies sold on its platform constituted unregistered securities that put consumers at risk of financial harm.
The dismissal would be the biggest victory for the crypto industry since President Trump took office last month, promising to end the Biden administration’s regulatory crackdown on crypto under the previous S.E.C. chair, Gary Gensler. And it would underline the growing influence in Washington of billionaire technology executives, who wrote enormous checks to support Mr. Trump’s campaign, hoping to secure softer regulation.
Paul Grewal, Coinbase’s chief legal officer, said in an interview that the agreement was “nothing short of a complete win” — Coinbase would not have to admit to any wrongdoing or pay a fine. The agency agreed to dismiss the case with prejudice, he said, meaning that the lawsuit can’t be brought again.
“The case goes away as if it had never been filed,” Mr. Grewal said….
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