Coinbase said on its website and in a regulatory filing on Friday that the U.S. Securities and Exchange Commission staff has agreed “in principle”—subject to the commissioner’s approval—to drop its lawsuit with prejudice against the cryptocurrency exchange.
In doing so, Coinbase argued it was always “right on the facts and the law,” and the acknowledgment by SEC staff confirmed the agency’s case—that the digital assets sold on the company’s platform constituted unregistered securities that put consumers at risk of financial harm—should have “never have been filed in the first place.”
