According to Brian Armstrong, the CEO of crypto exchange Coinbase, the U.S. securities regulator reportedly told his company to delist all digital assets save for bitcoin. Armstrong said acceding to the SEC’s demand would have “meant the end of the crypto industry in the U.S.”
SEC Reportedly Refused to Explain Why It Classifies Digital Assets as Securities
Prior to suing Coinbase, the U.S. Securities and Exchange Commission (SEC) reportedly asked the cryptocurrency exchange to delist all other digital assets except bitcoin. Brian Armstrong, the founder and CEO of Coinbase, claimed in an interview with the Financial Times that the U.S. regulator’s stance suggested it considered every other digital asset a security.
According to the CEO, the SEC only filed its lawsuit against Coinbase after the latter ignored the regulator’s advice. However, in its lawsuit filed on June 6, the SEC only identified 13 coins as assets that meet the SEC criteria for investment contracts. Besides ac
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