The Securities and Exchange Commission (SEC) decision to dismiss its nearly two-year lawsuit against Coinbase, suggesting that the Trump administration can mitigate regulations on digital assets. Since then, good news has also emerged as the SEC has decided to remove its tokens when it announces its launch after years of operations.
Coinbase wins SEC: lawsuit dismissed, no fines, no changes
Common cases It has been fighting the SEC’s lawsuit since 2023. The SEC wants Coinbase to stop offering certain cryptocurrencies, claiming they are securities (such as stocks), but Coinbase disagrees.
After spending a lot of money and time, Coinbase has now reached an agreement with the SEC, abandoning the lawsuit altogether. Coinbase does not have to pay any fines or change the way it operates its business, and the deal is expected to be officially approved next week.
The CEO of Coinbase is proud of the result. They believe that targeting them is wrong and surrendering could harm the entire cryptocurrency industry in the United States to protect their customers and industries, although many warn them that it will be an uphill battle.
Good news!
After years of litigation, your millions of taxpayers spend money, causing irreparable damage to the state, we have reached an agreement with SEC staff to dismiss their lawsuit against Coinbase. Once approved by the committee (we were told that next week will be expected)… pic.twitter.com/ilnobs7n6n
– Brian Armstrong (@brian_armstrong) February 21, 2025
Coinbase attributes the departure of the new Trump administration and the old SEC chief Gary Gensler to help the incident faster, while other crypto companies support the fight.
Looking ahead, Coinbase hopes to work better with the SEC under its new leader and push for clearer crypto rules in the United States, which they believe is a huge victory for their mission to provide people with more financial freedom through cryptocurrencies. .
After Coinbase, SEC continues to terminate investigation into OpenSea
February 22, Devin Finzer, Founder and CEO Openseaannounced that the SEC has officially ended its investigation into the NFT market without any enforcement measures.
According to Bloomberg Law, the SEC’s preliminary investigation into Opensea was in August 2024, accusing the platform of operating as an unregistered stock exchange.
But under the new leadership of SEC Chairman Mark Uyeda and Commissioner Hester Peirce, the agency has changed its position. According to Opensea CEO’s sharing, the SEC no longer considers the NFTs on the platform to be securities and has decided not to raise the matter further.
SEC is closing investigation @opensea. This is a victory for everyone who creates and builds in our space. Trying to classify NFTs as securities would have been a step backwards, a misunderstanding of the law and slowing down innovation.
Every Creator, size,…
– dfinzer.eth | Opensea (@dfinzer) February 21, 2025
Opensea’s CEO was pleased to share the news on social media platform X, noting that the SEC’s decision not to impose penalties not only protects NFT artists and creators from unclear regulations, but also has the potential to set important precedents. , help other NFT platforms avoid similar laws. risk.
Opensea confirms plans to release $Sea Token’s plan
In addition to Opensea, Opensea has introduced a new token called $SEA, managed by Opensea Foundation, designed to reward long-term supporters and loyal users, not just those chasing short-term gains.
They also reversed some old policies that were not in line with the spirit of crypto, such as bringing back locked items and meticulous collections, and abandoning unnecessary bans. To start the issue, OS2 There will be super low fees: the market fee is only 0.5% and the swap fee is 0%. The beta version also has an XP point system – one of the mechanisms used to determine which $Sea Tokens users may receive in the upcoming Airdrop.
In fact, XP points can be earned by listing or bidding for NFTs. The higher the value and popularity of NFT collection, the more XP users can accumulate. Ranking lists are also provided to track user progress.
There are many changes @opensea:
•We are launching OS2 – a brand new Opensea built from scratch. nfts🤝 token.
• $ Ocean From @openseafdn
• We are changing policies that don’t make sense for Web3: reimplement locked projects and delete favorites, and then delete… https://t.co/rmeu2tqfmc– dfinzer.eth | Opensea (@dfinzer) February 13, 2025
However, On February 18, Opensea temporarily suspended XP rewards to list and bid after the community rebounded, due to concerns that the mechanism encourages Wash deals and does not support builders.
Learn more: Opensea introduces the launch of $SEA tokens in the near future
