TechFlow news, February 21 — Fox Business reporter Eleanor Terrett reported that most legal experts previously expected the U.S. Securities and Exchange Commission (SEC) to seek a settlement with the cryptocurrency company rather than outright dismissal of the case, in order to avoid wasting millions of dollars in taxpayer funds. However, SEC Commissioners Mark Uyeda and Hester Peirce directly approved the dismissal of the lawsuit against Coinbase.
Terrett believes this decision severely undermines the credibility of the "regulation by enforcement" approach championed by former SEC Chair Gary Gensler and the Biden administration. Previously, the SEC had consistently employed aggressive enforcement actions to regulate the cryptocurrency industry.
