By Vicky Ge Huang
The Securities and Exchange Commission confirmed Thursday that it has dismissed a lawsuit against Coinbase that sought to regulate the company as a stock exchange, marking the official end of years of hardline enforcement against the crypto market.
Last week, Coinbase said regulators had agreed to drop the two-year-old case against the crypto exchange, which is the largest in the U.S.
The agency said in a release that it is dismissing the case while a new SEC crypto task force works on developing "a comprehensive and clear regulatory framework for crypto assets."
Separately, the SEC said Thursday in a staff statement that the offer and sale of meme coins are generally not subject to federal securities laws, although fraud in meme coins could still be policed by other federal and state regulators. Meme coins are a type of cryptocurrency often created as jokes and mainly for speculation.
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(END) Dow Jones Newswires
February 27, 2025 17:16 ET (22:16 GMT)
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