Brian Armstrong, CEO of the US-based crypto exchange Coinbase, made a great impression with his striking statement to the press. Speaking to the Financial Times, Armstrong claimed that prior to the SEC lawsuit, the government agency had made some demands on the stock market.
According to Armstrong’s allegations, the SEC requested something interesting from the Coinbase exchange before the legal investigation. Authorities demanded that all altcoins be delisted, except Bitcoin, which is traded on the exchange.
The SEC, which did not respond to this request from the Securities and Exchange Commission, filed a lawsuit against the stock market last month. The American government agency accuses the Coinbase exchange of brokering the unregistered trading of “tokens considered securities”.
Before the lawsuit, Armstrong said the following about what SEC officials wanted for the stock market:
“The SEC has told us that all non-Bitcoin cryptocurrencies are classified as securities. Therefore, they asked us to delist all altcoins traded on the exchange. When we asked them under which laws they applied for this sanction, they could not answer.”
The institution, which faced negative scenarios with the Ripple case, put crypto money exchanges on the target board this time. The Securities and Exchange Commission has also filed a lawsuit against the past Binance exchange.
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