SEC dropping Coinbase lawsuit is 'monumental' for crypto
Coinbase (COIN) CEO Brian Armstrong announced that the US Securities and Exchange Commission (SEC) intends to drop its lawsuit against the cryptocurrency exchange on Friday. Bitwise senior crypto research analyst Ryan Rasmussen joins Asking for a Trend with Julie Hyman to discuss what the SEC dropping the case against Coinbase means for the crypto space and what it signals about the US President Donald Trump's second administration's approach to crypto regulation. Bitwise operates several of its own bitcoin (BITB, BITC, BTOP) and crypto (BITQ, BITW) ETFs. "It's a really monumental moment for the industry that the SEC has dropped its years-long tirade against Coinbase," Rasmussen says, explaining, "I think it's a huge signal to the market that the actual regulatory pivot that we've been hearing is going to happen, that it's actually happening in Washington already." The analyst tells Yahoo Finance he's "very excited" as "we enter this next phase of growth, of mainstream adoption, and playing by the rules" for crypto. He adds that "part of that growth will be leaving [meme coins] in the past, and I think we're on the path to do that, but it won't be, necessarily, a smooth ride there." Catch Yahoo Finance's full interview with SEC Commissioner Hester Peirce here. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. This post was written by Naomi Buchanan.
