Regulation
US SEC Hester Peirce Breaks Silence On Coinbase Lawsuit Dismissal

US SEC Commissioner Hester Peirce has spoken out following the dismissal of the civil enforcement action against Coinbase. The case, which accused the cryptocurrency exchange of failing to register as a securities platform, was dropped with prejudice on February 27. Hester Peirce, known for her pro-crypto stance, expressed her disagreement with the initial lawsuit, criticizing the SEC’s regulatory approach toward the crypto industry.
US SEC Hester Peirce Criticizes Regulation by Enforcement
US SEC Commissioner Hester Peirce has stated that she did not support the enforcement action against Coinbase, arguing that it was part of a broader SEC strategy to regulate the crypto industry through enforcement rather than formal rulemaking. She emphasized that regulatory clarity should come from the SEC’s policy divisions, not from enforcement actions.
According to Peirce, the previous SEC leadership’s decision to rely on enforcement created uncertainty, which she believes harmed the American public and the crypto industry. She argued that the unclear regulatory environment discouraged law-abiding innovators while allowing bad actors to exploit the system.
US SEC Commissioner Hester Peirce stated,
“Environments in which the law is unclear are havens for bad actors and hostile territory for law-abiding people legitimately trying to solve society’s problems and meet its needs.”
Impact on the Crypto Industry and Legal Costs
US SEC’s Hester Peirce argued that the SEC’s enforcement-heavy strategy led to costly legal battles for crypto companies, diverting resources away from innovation. She noted that instead of focusing on product development, many industry participants were forced to navigate complex legal frameworks to avoid regulatory penalties.
The enforcement action against Coinbase focused on the exchange’s listing of tokens that the SEC claimed were unregistered securities under the Howey Test.
US SEC Commissioner Hester Peirce criticized the SEC’s broad interpretation of the Howey Test, saying it created confusion within the industry. She stated that token issuers and other stakeholders were left to interpret regulatory intentions from hints in various SEC complaints.
New Approach with the Crypto Task Force
The dismissal of the Coinbase case coincides with the SEC’s decision to adopt a new regulatory approach. The Commission has established a Crypto Task Force, which will focus on developing a clearer regulatory framework for digital assets.
Peirce praised this change, noting that the policy staff, rather than enforcement personnel, will now lead public engagements to create workable crypto regulations.
US SEC’s Hester Peirce emphasized that this strategic shift does not mean the SEC will stop using enforcement actions when necessary. However, she welcomed the focus on creating transparent regulations, which she believes will better serve the public and the industry.
“This new approach drives today’s dismissal of the charges against Coinbase,” Peirce said, “but it does not signal an end to the Commission’s use of its enforcement tool in appropriate cases.”
Meme Coins Not Classified as Securities
Concurrently, the US SEC’s Division of Corporation Finance clarified its stance on meme coins, stating that transactions involving these assets do not constitute the offer and sale of securities. Meme coins, inspired by internet memes and trends, are typically bought for entertainment or cultural purposes, with their value driven by market speculation.
According to the Division, meme coins lack the characteristics of traditional securities since they do not generate income or confer rights to profits or assets. However, the SEC warned that fraudulent conduct related to meme coins could still face enforcement actions under other federal and state laws, according to a bill released yesterday.
Moreover, the dismissal of the Coinbase lawsuit is part of a series of recent resolutions in high-profile SEC crypto cases. The SEC also dropped enforcement actions against Opensea and Gemini, while closing its investigation into Robinhood Crypto without pursuing further action. Additionally, legal experts are speculating that the ongoing case against Ripple may soon be resolved, with both parties potentially agreeing to drop their appeals.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Regulation
USDC Issuer Circle Set To File IPO In April, Here’s All

USDC issuer Circle is reportedly set to file its initial public offering (IPO) in April as part of the firm’s plans to finally go public. The stablecoin issuer is allegedly already working with top financial institutions to achieve this move.
Circle To File IPO In Late April
According to a Fortune report, Circle is looking to file its IPO in late April, although the listing period remains uncertain. The report noted that when a company files to go public, its shares usually begin trading four weeks later, indicating that the listing could occur in May. However, there is also a scenario where the IPO process could drag on for months.
The stablecoin issuer is reportedly working with investment banks JPMorgan Chase and Citi to achieve its long-anticipated IPO. The firm had previously tried to go public in 2021 under a SPAC arrangement with a shell company.
The US SEC failed to sign off on this arrangement back then, and the company eventually scrapped these IPO plans by the end of 2022 when the crypto exchange FTX collapsed and the broader crypto market experienced a downturn.
Revelation about Circle’s IPO plans comes just days after the stablecoin issuer partnered with NYSE’s parent company to explore USDC’s use in traditional finance (TradFi). Meanwhile, the USDC stablecoin recently launched in Japan following approval from the country’s regulator. Notably, USDC is the first and only global dollar stablecoin approved under Japan’s stablecoin framework.
An Easier Path Now For The Stablecoin Issuer
Circle will likely face less resistance for its IPO plans under the current SEC administration. Under acting Chair Mark Uyeda, the Commission has shown its willingness to work hand in hand with crypto firms, which was missing under Gary Gensler’s administration.
US SEC Chair nominee Paul Atkins has also shown his willingness to change the approach that Gensler’s administration adopted towards crypto firms. During his nomination hearing, the SEC Chair nominee promised to prioritize providing regulatory clarity for the industry.
Circle’s IPO listing would be the biggest since the top crypto exchange Coinbase went public in 2021. Interestingly, Coinbase owns an equity stake in the crypto firm.
The firm’s USDC is currently the second-largest stablecoin by market cap, only behind Tether’s USDT. The stablecoin industry is heating up as more financial institutions look to develop their own stablecoin.
Donald Trump’s World Liberty Financial recently revealed plans to launch its USD1 stablecoin, while asset manager Fidelity is also considering doing so.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Regulation
Japan Set To Classify Cryptocurrencies As Financial Products, Here’s All

Cryptocurrency investors in Japan are bracing for impact following a plan to reclassify digital assets as financial products. While the plan has elicited excitement from cryptocurrency enthusiasts in the Far East, the ambitious plan will have to scale several legislative hurdles.
Japan Targets Reclassification Of Cryptocurrencies As Financial Products
According to a report by Nikkei, Japan’s Financial Services Agency (FSA) is inching toward classifying cryptocurrencies as financial products. Per the report, the FSA intends to achieve the reclassification via an amendment to the Financial Instruments and Exchange Act.
Currently, digital assets in Japan are considered crypto assets conferred with property rights and seen as payment means. Under the FSA’s plans, cryptocurrencies in Japan will be treated as financial products in the same manner as traditional financial products.
The FSA says it will adopt a slow and steady approach toward the reclassification, carrying out “a private expert study group” to test the waters. If everything goes according to plan, the FSA will submit the amended bill to Parliament in early 2026.
The classification of cryptocurrencies as financial products will have far-reaching consequences for the local ecosystem. Experts say treating cryptocurrencies as financial products will bring Japan closer to a crypto ETF launch amid a changing regulatory landscape.
Furthermore, the move may lower current cryptocurrency taxation for local investors since existing capital market rules will apply to the asset class.
A Fresh Bill For Crypto Insider Trading Is Underway
Apart from the reclassification, the FSA disclosed plans for new legislation against insider trading. The move flows treating cryptocurrencies as financial products and will strengthen existing investor protection rules.
“It is a direction to establish a new insider trading regulation that prohibits trading based on unpublished internal information,” said the FSA. “We will develop laws to prevent unfair transactions.”
However, Japan’s cryptocurrency scene is heating up to a boil, driven by local and international players. Last week, stablecoin issuer Circle secured approval from the FSA for USDC with top exchanges set to list the stablecoin.
Japan’s Metaplanet has tapped Eric Trump to join its Strategic Board of Advisors as it continues to load up Bitcoin.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Regulation
Kentucky Governor Signs Off On ‘Bitcoin Rights’ Bill, Strengthening Crypto Protections


In what is being dubbed a major development in the crypto regulation space, the Governor of the US state of Kentucky, Andy Beshear, has signed the ‘Bitcoin Rights’ bill into law. The law promises to safeguard protections for Bitcoin (BTC) users.
Bitcoin Rights Bill Comes Into Effect
Crypto regulations continue to evolve under pro-crypto US President Donald Trump’s administration. In the latest development, Kentucky has become the newest state to enshrine protections for digital asset users.
In an X post published on March 24, crypto advocacy group Satoshi Action Fund announced that Governor Beshear had signed the much-anticipated Bitcoin Rights bill into law. The post stated:
The right to self-custody, run a node, and use of digital assets is now protected for millions of Americans without fear of discrimination.
The bill was first introduced to the Kentucky House by Rep. Adam Bowling on February 19. According to the bill’s description, it seeks to safeguard users’ rights to use digital assets and self-custody wallets. Additionally, it aims to prohibit local zoning changes that discriminate against crypto mining operations.
The legislation outlines guidelines for running a digital asset node and excludes digital asset mining from money transmitter license requirements. It also clarifies that crypto mining or staking is not considered an offer or sale of securities.
On February 28, the bill passed Kentucky’s House of Representatives with a unanimous vote of all 91 representatives in favor. It later passed the Kentucky Senate on March 13, receiving backing from all 37 senators.
Kentucky’s proactive stance toward cryptocurrencies isn’t new. Earlier this year, the state became the 16th US state to introduce legislation seeking to create a Bitcoin strategic reserve.
Meanwhile, neighboring state Arizona is also joining the crypto movement. A recent X post by Bitcoin Laws revealed that Arizona’s House Rules Committee has passed two Bitcoin reserve bills — SB1373 and SB1025. These bills will now head to a full floor vote.
Renewed Optimism Under Trump Administration
Following Trump’s victory in the November presidential election, cryptocurrency regulations in the US are evolving rapidly, with many states introducing legislation aimed at strengthening their digital asset ecosystems and attracting crypto businesses.
Positive changes in crypto regulations are encouraging industry businesses to expand. For instance, leading crypto trading platform Coinbase recently announced plans to hire 1,000 employees in the US.
The Trump administration has also witnessed several lawsuits being dropped against major crypto entities, including Kraken, Coinbase, Gemini, and others. At press time, Bitcoin trades at $87,399, down 0.2% in the past 24 hours.

Featured Image from Unsplash.com, chart from TradingView.com

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