★ Government Action
Trump's SEC dismisses civil enforcement case against Coinbase
Corporate FavorsCrypto Deregulation
Filed February 2025
★ The Brief
What happened
On February 27, 2025, the SEC filed a joint stipulation to dismiss its pending civil enforcement action against Coinbase. Acting Chairman Uyeda announced a new Crypto Task Force to replace enforcement-led policy.
Who enabled it
Who benefits
Deal or steal?
Before the dismissal, Coinbase had donated $1 million to Trump's inaugural and $750,000 to the Trump 47 Committee. The SEC stated the dismissal was not based on the merits.
On February 27, 2025, the Securities and Exchange Commission filed a joint stipulation with Coinbase Inc. and Coinbase Global Inc. to dismiss a pending civil enforcement action against both entities. Acting Chairman Mark T. Uyeda announced the decision, stating that the SEC's prior approach of expressing crypto policy through enforcement actions was inappropriate, and that the newly formed Crypto Task Force — announced January 21, 2025 — would instead develop a comprehensive regulatory framework for crypto assets. The SEC explicitly stated the dismissal was not based on the merits of the underlying claims.
Actors
Who pushed it · 2Who initiated, paid, or pushed the action.
Mark T. UyedaAs SEC Acting Chairman, directed the Commission to file a joint stipulation dismissing the civil enforcement action against Coinbase, framing the move as part of a broader regulatory reform effort.
Securities and Exchange CommissionFiled the joint stipulation to dismiss the civil enforcement action against Coinbase at the direction of Acting Chairman Uyeda.
Beneficiaries
Who gained · 1Who stood to gain.
CoinbaseHad the pending civil enforcement action against Coinbase Inc. and Coinbase Global Inc. dismissed by the SEC, ending the litigation.
Coinbase has paid into Trump’s orbit:
Further reading
- ★ Government ActionFebruary 2025Trump's SEC closes Robinhood crypto investigation with no action
- ★ Private ActionOctober 2025Corporations pledge funding for Trump's $300M White House ballroom
- ★ Private ActionAugust 20251789 Capital invests in Polymarket, places partner Trump Jr. on board
- ★ Government ActionAugust 2025Trump's SEC ends Biden-era Ripple Labs crypto enforcement case
- ★ Government ActionJuly 2025DOJ drops Polymarket probe, clearing path for US reentry
- ★ Government ActionJuly 2025Trump's commodities regulator closes Polymarket betting probe