Coinbase said on Friday the U.S. securities regulator planned to withdraw its lawsuit against the crypto exchange, ending a contentious years-long legal battle once considered existential for the trading platform and the broader sector.

The Securities and Exchange Commission has moved quickly to overhaul its approach to policing the crypto sector under Republican leadership since President Donald Trump took office. The agency has established a dedicated task force and rescinded key crypto-related accounting guidance.

The SEC, which declined to comment, has been expected to review pending court cases and walk back its litigation even before

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