Coinbase won the cryptopause in the legal battle, as Alabama has officially canceled its enforcement procedure. This leaves only five states who still pursue Coinbase over their contribution program, which allows users to earn bonuses for validation of prizes.
This will come against Coinbase's recent progress in the US Security Committee and Exchange Committee (SEC). Changed in internal documents on ETH2.0 on the study of the Gensler era.
Grewal Slams countries over cases
Paul Grewal, a legal leader in Coinbase, announced in the post that he has reached halfway legal battle After the Alabama retreat. The state of the US was one of the ten states to compile in June 2023 to blame the exchange of unregistered securities. This turned out to be a regulatory amb to the label team when SEC supported it.
Grewal mentioned that most other states have already banned ceiling straight and he is not impressed. He added that five detention would still choose taxpayers' resources for lawsuits. This step has left consumers the right to serve on the platform of their choice.
Suspending a case is a big victory for Coinbase, which has firmly stated that contribution is not securities. But it also exerts a greater pressure on DC, and even regulators are waiting for a federal rule book that is reasonable.
As in court submissionIn June 2023, the Alabama Securities Committee “The Reason for Show” called for an order requiring Coinbas to explain why his betting services should not be closed as illegal securities. On the same day, SEC filed a federal case, reflecting the same requirements.
Quickly forward to 28 February 2025, the Federal Court rejected Sec with prejudice. This means that it cannot come back. The submission emphasized that SEC has just formed a new working group to figure out what cryptogulation actually looks like. This suggests that regulators understand that pursuing outdated laws by the law is a legal headache. However, it is better to wait for the congress or Secc to create real rules.
Coin stocks rise 3% in the middle of a legal victory
The largest crypto exchange in the United States is the heat of the best watchdogs. Coinbas was able to get his hands on some important research document united by Gensler. This includes the May 2022 PDF file entitled “Ethereum 2.0 analysis Howey”, compiled by SEC staff.
Grewal mentioned that there was a letter of Ethereum A February 2023, and the PDF file of 2023, entitled “2 -Ethereum 2.0”. He added that the documents will also organize the August 2023 email entitled “ETH Discussion Time” and two February 2024 e -mail titled “FW Spot ETH – Security, Not Security” and “Ethh – Security or Not”
The price of Coinbase (coin) continues to recover, as legal complications take the back seat here. The coin price increased by almost 3%at the Wednesday trading session. This lasts more than 14%in the last week. But in the last month it is still 4%. The coin trades during the press at an average price of $ 194.80.
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