Coinbase announced Friday that the Securities and Exchange Commission has agreed to drop its enforcement case against the company, pending the approval of the regulator’s commissioners.

Shares of Coinbase rose 4% in premarket trading.

In 2023, the SEC charged Coinbase with operating an unregistered securities exchange and for failing to properly register its crypto staking program. However, the case was started under former SEC Chair Gary Gensler. The commission is expected to take a more friendly stance to the crypto industry under President Donald Trump and Paul Atkins, the current nominee for SEC chair.