Coinbase: reached an agreement with the US SEC, and the relevant lawsuit is expected to be officially approved for revocation next week

PANews February 21 news, Coinbase co-founder and CEO Brain Armstrong posted on X platform that after years of litigation, millions of taxpayers have been spent on the money, causing irreparable damage to the country. Coinbase and the United States SEC staff reached an agreement to revoke their lawsuit against Coinbase. Once approved by the Securities and Exchange Commission (who was told it will be approved next week), it will be a complete revocation with zero fines and no changes in business.

1. The Securities and Exchange Commission made a legal mistake.

2. Submission to the SEC's request may lead to the decline of the crypto industry in the United States.

3. Litigation revocation is the right choice for Coinbase’s clients and industries.

Brain Armstrong said he looked forward to the SEC reform under the leadership of Paul Atkins, Mark Uyeda, Hester Peirce and DOGE, and looked forward to new and smarter personnel entering leadership positions.