Staff at the agency have agreed in principle to dismiss the lawsuit against Coinbase, the company said in a blog post Friday. The agreement is pending approval from the SEC’s three commissioners, who are expected to vote on the dismissal next week, according to Coinbase.

The Securities and Exchange Commission has agreed to drop its lawsuit against Coinbase, following what the crypto exchange said was a change in “political leadership” at the agency, which accused Coinbase of failing to register as a securities exchange under the Biden administration.

Regulators have agreed to drop a lawsuit against Coinbase that sought to regulate the company as a stock exchange, marking the end of years of hard-line enforcement against the crypto market. Coinbase said Friday that enforcers at the Securities and Exchange Commission would recommend dismissal of the two-year-old lawsuit,