Coinbase Global Inc. announced that the U.S. Securities and Exchange Commission (SEC) has agreed in principle to dismiss its enforcement case against the cryptocurrency exchange, subject to approval by the Commission expected next week. The SEC's lawsuit, initiated in June 2023, alleged that Coinbase was operating as an unregistered securities exchange, despite the SEC approving the company's initial public offering in April 2021. Coinbase CEO Brian Armstrong called the case "unlawful from the start" and stated that the dismissal would result in "zero fines paid and zero changes to our business." The news sent Coinbase shares up 5% in pre-market trading. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io