The U.S. Securities and Exchange Commission on Thursday dismissed its civil lawsuit against crypto exchange Coinbase Global (NASDAQ:COIN) as the regulator pivots toward a softer stance on digital assets under the Trump administration.

A landmark legal battle for the U.S. crypto sector, the government accusation that Coinbase ran an unregistered exchange, has been entirely abandoned.

Coinbase is in the clear after the SEC followed through on its agreement and voluntarily dismissed its case against the crypto exchange.

The battle may be around setting rules for exchanges and establishing when tokens should be treated as securities or as commodities.

The US SEC has filed a voluntary dismissal in its case against Coinbase. The agency has also dropped lawsuits against Consensys, Robinhood, and Gemini in recent days.

Coinbase debuted its stock on the Nasdaq in April 2021 after the SEC reviewed the crypto exchange's business model and S1 disclosures and allowed the company to go public. However, Coinbase said that changed two years later, when the SEC sued the company "despite absolutely nothing" changing in its business model.

WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission said on Thursday it filed a joint stipulation with Coinbase Inc and Coinbase Global Inc to dismiss an ongoing civil enforcement action against the two entities. Copyright 2025 Thomson Reuters.

According to Coinbase chief legal officer Paul Grewal, the US Securities and Exchange Commission (SEC) plans to drop its lawsuit against the largest US cryptocurrency exchange, as the agency shifts to embrace Donald Trump's new approach to regulating cryptocurrency in the US.