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.

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 regulator sued the U.S.’s most prominent crypto exchange in June 2023 for allegedly flouting securities laws.