SEC刪除針對Coinbase的訴訟，表示加密監管的變化

在加密貨幣行業的重大發展中，美國證券交易委員會（SEC）已同意放棄對Coinbase的訴訟

The U.S. Securities and Exchange Commission (SEC) has agreed to drop its lawsuit against Coinbase, in a major development for the cryptocurrency industry. The SEC filed a lawsuit against Coinbase in 2023, accusing the company of operating as an unregistered securities exchange. The agency alleged that at least 13 digital assets traded on Coinbase’s platform should have been registered as securities before being publicly offered.

美國證券交易委員會（SEC）已同意在加密貨幣行業的重大發展中撤銷對Coinbase的訴訟。 SEC在2023年對Coinbase提起訴訟，指責該公司作為未註冊的證券交易所運營。該機構聲稱，在公開提供之前，在Coinbase平台上至少有13個數字資產應已註冊為證券。

Coinbase’s Chief Legal Officer Paul Grewal announced the SEC’s agreement “in principle” to dismiss the lawsuit in a Friday tweet. However, the official withdrawal of the case is still pending final approval from an SEC commissioner.

Coinbase的首席法律官Paul Grewal宣布了SEC在周五推文中駁回該訴訟的協議。但是，該案的正式撤回仍在首次批准的SEC專員之前。

“A year ago, the SEC filed a securities fraud lawsuit against Coinbase alleging that at least 13 digital assets traded on Coinbase’s platform were unregistered securities,” Grewal stated, adding that the SEC had now agreed to drop the case.

格雷瓦爾說：“一年前，美國證券交易委員會針對Coinbase提起了證券欺詐訴訟，指控Coinbase平台上至少13個數字資產是未註冊的證券。”

In his post, Grewal highlighted the role of “political leadership” in the SEC’s decision, suggesting that the trajectory of the lawsuit was heavily influenced by the regulatory stance under the Biden administration. With a potential shift in oversight under President Donald Trump — who has publicly expressed his intention to reduce regulatory constraints on the crypto industry — the regulatory landscape appears to be transforming.

格雷瓦爾（Grewal）在他的帖子中強調了“政治領導”在SEC的決定中的作用，這表明訴訟的軌跡受到拜登政府領導下的監管立場的嚴重影響。總統唐納德·特朗普（Donald Trump）領導下的監督可能發生了變化，唐納德·特朗普（Donald Trump）公開表示打算減少對加密貨幣行業的監管限制 - 監管格局似乎正在改變。

“With an administration that promised to ‘regulate crypto out of existence,’ and a Democratic SEC Chair who viewed the Coinbase case as his agency’s ‘crypto moment,’ the SEC was dead set on making an example out of Coinbase,” Grewal wrote.

格雷瓦爾寫道：“有了一個承諾'監管加密貨幣'的政府，而民主黨的SEC主席將Coinbase案視為他的代理機構的“加密貨幣時刻”，SEC卻打算從Coinbase中以榜樣為例。 ”

The decision to drop the case against Coinbase signals a potential softening of the SEC’s aggressive stance on cryptocurrency regulation, reflecting broader political and economic considerations. The move could also serve as a precedent for other crypto-related legal battles, particularly those that have been viewed as excessive or politically motivated by industry participants.

決定對Coinbase的案件的決定表明，SEC對加密貨幣監管的侵略性立場的潛在軟化，反映了更廣泛的政治和經濟考慮。此舉還可以作為其他與加密相關的法律鬥爭的先例，尤其是那些被行業參與者被視為過度或政治動機的法律鬥爭。

Parallels With the Ripple (XRP) CaseThe SEC’s retreat in the Coinbase case draws inevitable comparisons to its high-profile legal battle with Ripple Labs, the company behind XRP. The SEC sued Ripple in December 2020, alleging that XRP was an unregistered security and that Ripple had conducted an unlawful securities offering. After years of legal wrangling, a landmark ruling in 2023 declared that XRP was not a security when sold on exchanges, delivering a partial victory for Ripple and the broader crypto industry.

與Ripple（XRP）Casethe SEC在Coinbase案中的撤退相似，這與與XRP背後的公司Ripple Labs的備受矚目的法律鬥爭不可避免地比較。 SEC於2020年12月起訴Ripple，指控XRP是未註冊的安全性，而Ripple進行了非法證券提供。經過多年的法律爭吵，2023年的一項具有里程碑意義的裁決宣布，XRP在交流時出售時不是安全，為Ripple和更廣泛的加密貨幣產生了部分勝利。

The outcome of the Ripple case was seen as a pivotal moment in shaping cryptocurrency regulation, as it set legal precedents that undermined the SEC’s aggressive classification of digital assets as securities. The agency’s decision to withdraw from its battle with Coinbase may reflect an acknowledgment of legal setbacks and a reassessment of its enforcement priorities in the face of judicial pushback.

波紋案件的結果被視為塑造加密貨幣法規的關鍵時刻，因為它設定了破壞SEC對數字資產作為證券的積極分類的法律先例。該機構決定退出與Coinbase的鬥爭可能反映出對法律挫折的認可，並在面對司法推回時重新評估其執法優先事項。

What This Means for the Future of Crypto RegulationThe SEC’s decision to drop its case against Coinbase signals a potential regulatory thaw, especially as political leadership shifts and the industry gains greater clarity on compliance expectations. While regulatory oversight remains essential for investor protection and market integrity, heavy-handed enforcement actions have often been criticized for stifling innovation and driving crypto firms offshore.

這對Crypto監管的未來意味著什麼，SEC決定對Coinbase的案件提出了潛在的監管解凍，尤其是隨著政治領導層的轉變和行業對合規性期望的更加清晰度。儘管監管監督對於投資者的保護和市場誠信仍然是必不可少的，但重力執法行動經常因扼殺創新並將加密貨幣公司驅逐到海上而受到批評。

For now, Coinbase’s victory marks a crucial moment for the cryptocurrency industry. The dismissal of the lawsuit reinforces the growing legal recognition that digital assets require a more nuanced regulatory framework — one that fosters innovation while ensuring compliance with evolving financial laws.

目前，Coinbase的勝利標誌著加密貨幣行業的關鍵時刻。駁回訴訟的訴訟加強了越來越多的法律認可，即數字資產需要一個更細微的監管框架，這是一種促進創新的同時，同時確保遵守不斷發展的財務法。

The SEC’s move to drop its lawsuit against Coinbase represents a pivotal shift in the regulatory landscape, underscoring the influence of political leadership on enforcement policies. As the industry continues to navigate regulatory challenges, cases like Ripple and Coinbase serve as key milestones in shaping the future of crypto regulation in the United States. Whether this marks the beginning of a more balanced approach to crypto oversight remains to be seen, but for now, the Coinbase case is a victory for the industry and a step toward clearer, fairer regulatory guidelines.

SEC撤銷對Coinbase的訴訟的舉動代表了監管場景的關鍵轉變，強調了政治領導對執法政策的影響。隨著該行業繼續應對監管挑戰，Ripple和Coinbase等案件是塑造美國加密監管未來的關鍵里程碑。這是否標誌著更平衡的加密監督方法的開始還有待觀察，但是就目前而言，Coinbase案是該行業的勝利，也是邁向更清晰，更公平的監管指南的一步。

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