"This is not about how the litigation was going, this is about the Trump administration not wanting to go after crypto," a source told BI.

Coinbase chief executive Brian Armstrong said the potential dismissal of the lawsuit would be "hugely vindicating". Cryptocurrency exchange Coinbase has claimed that the US Securities and Exchange Commission (SEC) plans to drop a lawsuit against the firm.

Coinbase has announced that the SEC under President Trump has put an end to legal actions regarding an allegation that the company ran an unregistered security exchange. The commission still has to put it to a vote.

KEY TAKEAWAYS Coinbase shares ticked higher in early trading after the cryptocurrency exchange said that the SEC is recommending the dismissal of a two-year lawsuit against it.The SEC sued Coinbase during the Biden administration for operating an unregistered securities exchange and offering an unregistered security to the public via their