The SEC has told Coinbase it should stop trading all cryptocurrencies except Bitcoin.
The SEC has requested that all cryptocurrencies be delisted except Bitcoin (BTC) before suing the popular crypto exchange Coinbase. Responding to the SEC’s harsh stance, Coinbase CEO Brian Armstrong stated that they had no choice but to go to court.
The SEC-Coinbase war is heating up
From June 6, the SEC accused Coinbase of neglecting federal securities law. Additionally, he described 13 altcoins as securities. Coinbase responded to these situations by saying that the SEC’s action violated legal process and was an abuse of discretion.
Many different answers came from the CEO of the exchange to the SEC-Coinbase tension. Armstrong said of the recent confusion, “The SEC made the recommendation before taking legal action against the Nasdaq-listed company last month for not registering as an intermediary.” replied in the form. Also, referring to the solutions, the CEO emphasized that they have no other choice but to go to court.
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