The US SEC requested Coinbase to halt trading on all cryptocurrencies except Bitcoin before lawsuit.
SEC Chair Gary Gensler has expressed the belief that most cryptocurrencies should be classified as securities.
Coinbase suspended staking services in four US states to comply with regulatory requirements.
The US Securities and Exchange Commission’s (SEC) recent move sparked controversy, Coinbase was asked to halt trading on all cryptocurrencies except for Bitcoin (BTC). According to the Financial Times, Coinbase CEO Brian Armstrong revealed that this request came before the SEC’s legal action against the company on June 6, where they charged Coinbase for failing to register as a broker.
The SEC identified 13 cryptocurrencies on Coinbase’s platform as securities, asserting that their offering fell under regulatory oversight. What’s even more significant is that the SEC’s suggestion to delist over 250 tokens, leaving only Bitcoin on the exchange, reflects the SEC’s stance in a
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