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Early on Friday, Coinbase’s stock price rose following the announcement that regulators would drop their lawsuit against the cryptocurrency Securities and Exchange Commission (SEC) had accused Coinbase of operating an unregistered securities of Coinbase rose by around 4.3 per cent in pre-market trading, signalling renewed investor optimism, according to a report by Barron’’s Chief Legal Officer, Paul Grewal, said, according to The Wall Street Journal, that SEC staff had agreed to recommend the lawsuit’s dismissal, pending final approval from the commission. The decisive vote is expected next described the development as a great day for crypto and Coinbase, adding that the company remained committed to defending itself for as long as lawsuit, filed during the Joe Biden administration, was part of a broader effort to regulate the cryptocurrency industry under traditional investor protection laws. But Coinbase has long maintained that cryptocurrencies should not be treated as securities.
