SEC删除针对Coinbase的诉讼，表示加密监管的变化

在加密货币行业的重大发展中，美国证券交易委员会（SEC）已同意放弃对Coinbase的诉讼

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.

美国证券交易委员会（SEC）已同意在加密货币行业的重大发展中撤销对Coinbase的诉讼。 SEC在2023年对Coinbase提起诉讼，指责该公司作为未注册的证券交易所运营。该机构声称，在公开提供之前，在Coinbase平台上至少有13个数字资产应已注册为证券。

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在周五推文中驳回该诉讼的协议。但是，该案的正式撤回仍在首次批准的SEC专员之前。

“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.

格雷瓦尔说：“一年前，美国证券交易委员会针对Coinbase提起了证券欺诈诉讼，指控Coinbase平台上至少13个数字资产是未注册的证券。”

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.

格雷瓦尔（Grewal）在他的帖子中强调了“政治领导”在SEC的决定中的作用，这表明诉讼的轨迹受到拜登政府领导下的监管立场的严重影响。总统唐纳德·特朗普（Donald Trump）领导下的监督可能发生了变化，唐纳德·特朗普（Donald Trump）公开表示打算减少对加密货币行业的监管限制 - 监管格局似乎正在改变。

“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.

格雷瓦尔写道：“有了一个承诺'监管加密货币'的政府，而民主党的SEC主席将Coinbase案视为他的代理机构的“加密货币时刻”，SEC却打算从Coinbase中以榜样为例。”

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.

决定对Coinbase的案件的决定表明，SEC对加密货币监管的侵略性立场的潜在软化，反映了更广泛的政治和经济考虑。此举还可以作为其他与加密相关的法律斗争的先例，尤其是那些被行业参与者被视为过度或政治动机的法律斗争。

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.

与Ripple（XRP）Casethe SEC在Coinbase案中的撤退相似，这与与XRP背后的公司Ripple Labs的备受瞩目的法律斗争不可避免地比较。 SEC于2020年12月起诉Ripple，指控XRP是未注册的安全性，而Ripple进行了非法证券提供。经过多年的法律争吵，2023年的一项具有里程碑意义的裁决宣布，XRP在交流时出售时不是安全，为Ripple和更广泛的加密货币产生了部分胜利。

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.

波纹案件的结果被视为塑造加密货币法规的关键时刻，因为它设定了破坏SEC对数字资产作为证券的积极分类的法律先例。该机构决定退出与Coinbase的斗争可能反映出对法律挫折的认可，并在面对司法推回时重新评估其执法优先事项。

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.

这对Crypto监管的未来意味着什么，SEC决定对Coinbase的案件提出了潜在的监管解冻，尤其是随着政治领导层的转变和行业对合规性期望的更加清晰度。尽管监管监督对于投资者的保护和市场诚信仍然是必不可少的，但重力执法行动经常因扼杀创新并将加密货币公司驱逐到海上而受到批评。

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的胜利标志着加密货币行业的关键时刻。驳回诉讼的诉讼加强了越来越多的法律认可，即数字资产需要一个更细微的监管框架，这是一种促进创新的同时，同时确保遵守不断发展的财务法。

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撤销对Coinbase的诉讼的举动代表了监管场景的关键转变，强调了政治领导对执法政策的影响。随着该行业继续应对监管挑战，Ripple和Coinbase等案件是塑造美国加密监管未来的关键里程碑。这是否标志着更平衡的加密监督方法的开始还有待观察，但是就目前而言，Coinbase案是该行业的胜利，也是迈向更清晰，更公平的监管指南的一步。

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