Coinspeaker
SEC Asked Coinbase to Delist All Cryptocurrencies Except for Bitcoin
Leading American cryptocurrency exchange, Coinbase is entangled in a regulatory showdown with the US Securities and Exchange Commission (SEC) over its trading practices. According to an interview with the Financial Times, Coinbase CEO Brian Armstrong said the SEC requested the exchange to suspend trading of all digital assets listed on the platform except for Bitcoin (BTC) before initiating a lawsuit against the firm in June.
Recall that the SEC’s lawsuit alleged that the exchange violated securities laws by facilitating unregistered trading in 12 digital tokens, considered securities. However, the financial watchdog requested the company to delist over 200 tokens traded on the platform except BTC to escape the lawsuit.
“They came back to us, and they said . . . we believe every asset other than bitcoin is security. And, we said, well, how are you coming to that conclusion, because that’s not our in
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