Viewpoint: The US SEC is likely to abandon the Coinbase lawsuit or reach some kind of agreement

Odaily Planet Daily News: Donald Trump's return to the White House has given Bitcoin and Coinbase investors more reasons to cheer. The new president has promised to promote the development of the US cryptocurrency industry by relaxing regulations. After Thursday's closing, investors will know whether this celebration translates into higher profits. Trump has promised to build the United States into the "global capital of cryptocurrencies" by introducing a more relaxed regulatory system. Trump has appointed or nominated regulators who support cryptocurrency in multiple institutions such as the Securities and Exchange Commission (SEC), Federal Deposit Insurance Corporation (FDIC), and Commodity Futures Trading Commission (CFTC). Under the leadership of Acting Chairman Mark Uyeda, the SEC has begun pushing forward with a cryptocurrency working group aimed at developing plans for the industry to operate legally in the United States, while venture capitalist David Sacks has led similar efforts in the White House. These changes are crucial for Coinbase as the SEC sued the company in 2023, accusing it of operating an unregistered stock exchange. Coinbase has defended against this accusation. Under Trump's leadership, there is a high probability that the SEC will abandon this case or reach some kind of agreement, allowing Coinbase to continue operating as planned. As of now, Coinbase has not responded to comment requests. （Barrons）