The SEC Dismisses Key Case, Sparking Optimism for Cryptocurrency Investors

Cryptocurrency enthusiasts have struggled to comprehend the implications of Trump’s presidency. However, the significance of recent developments is becoming increasingly clear. A major announcement has confirmed the dismissal of the lawsuit against Coinbase, bringing critical relief to both altcoins and Bitcoin $85,301.

The Coinbase Lawsuit

In June 2022, the SEC filed a lawsuit against the Coinbase exchange, spearheaded by Gensler, who had aggressively targeted cryptocurrencies over the years. By pursuing cases against Ripple $2, Binance, Kraken, and other platforms, the SEC sought to impose regulatory measures on the sector. However, following Gensler’s resignation on January 20, cryptocurrency investors can finally breathe easier.

Today, the outcome of discussions between the SEC and Coinbase has led to the announcement that the case will be dismissed in favor of individual freedom for U.S. citizens. Coinbase has expressed its satisfaction with this development, which also raises hopes for other ongoing cases, such as those involving Binance and Ripple. This news is expected to be motivating for resolving Ripple’s appeal process and potentially dropping the Binance lawsuit as well.

Bitcoin is now trading above $99,000, and altcoins are turning green once again. This significant price catalyst could ignite the anticipated first-quarter rally in altcoins.