Bitcoin exchange Coinbase was rocked by a lawsuit filed by the US Securities and Exchange Commission earlier this month. However, the exchange revealed that it will fight against the SEC. On the other hand, Coinbase checks the tokens on its list periodically. As a result, it sometimes completely removes the relevant altcoins from the list, and sometimes ends some trading parities. In this direction, the cryptocurrency exchange decided to de-list in various parities for 7 altcoins.
Coinbase ends some trading pairs for 7 altcoins
As you follow on Kriptokoin.com, the tides in the crypto world are endless. The market entered a breakout phase after a strong run led by Bitcoin. However, changes continue to occur in projects and exchanges. Leading crypto exchange Coinbase has announced that it will end various trading pairs for 7 altcoins with an announcement. The exchange stated that this decision will take effect at or around 19:00 CEST tomorrow. In this context, Coinbase shared the following statement from its official Twitter account:
To consolidate liquidity, we will remove a number of trading pairs for certain supported assets. We will suspend trading on the following markets at or around 09:00 on June 27, 2023. The mentioned trading pairs are: BNT-GBP, BTRST-GBP, CLV-GBP, DDX-EUR, ERN-EUR, MEDIA-USDT and TRB-BTC.
To consolidate liquidity, we will be removing a number of trading pairs for certain supported assets.
We will suspend trading on the following markets on or around 9AM PT on 27 June 2023:
BNT-GBP, BTRST-GBP, CLV-GBP, DDX-EUR, ERN-EUR, MEDIA-USDT, & TRB-BTC
— Coinbase Exchange 🛡️ (@CoinbaseExch) June 26, 2023
By the way, it should be noted that the decision of the exchange is valid for the specified trading parities. In other words, Coinbase will continue to trade, except for the pairs specified for the altcoins in question.
Coinbase will continue to support assets after SEC lawsuit
A day after the U.S. Securities and Exchange Commission (SEC) filed a similar lawsuit against Binance, it also sued U.S. crypto exchange Coinbase for allegedly violating federal securities law. The SEC has claimed that at least 13 cryptocurrencies on Coinbase’s list are securities. However, Coinbase stated that it has no plans to delist any assets or stop staking services, despite the SEC’s claims to this effect. Chief Legal Officer Paul Grewal assured users that Coinbase will continue to support these assets. He also stressed that this is “business as usual”.
However, it is worth noting that Coinbase has taken steps in the past such as stopping XRP trading due to the SEC’s lawsuit against Ripple. In addition, the exchange had previously removed Algorand from staking options during regulatory concerns. However, these decisions can only be indirectly related to regulatory events. While Coinbase aims to maintain its current offerings, Cathie Wood’s ARK Invest purchased approximately $21 million worth of Coinbase shares in the wave of sales following the announcement of the SEC lawsuit. Meanwhile, Cardano developer Input Output has claimed that the ADA token is not a security, contrary to claims made by the SEC. Accordingly, he objected to the inclusion of the SEC in his case.
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