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SEC is dropping lawsuit, Coinbase boss says

Coinbase chief executive Brian Armstrong has said the Securities and Exchange Commission (SEC) plans to drop a lawsuit against the firm. The SEC has claimed that the cryptocurrency exchange violated laws by offering investments that are subject to its rules despite not registering as an exchange, broker and clearing agency with the regulator. Armstrong said that Coinbase has reached “an agreement” with the regulator that will see it dismiss the legal action. He added that the firm will not face any fines or have to make changes to how it operates.

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