The anti-crypto war against Coinbase. We learn it this morning. The United States Securities and Exchange Commission (SEC) wants to remove all cryptocurrencies from its trading platform except bitcoin. A request which, according to Brian Armstrong, would have provoked: the end of the crypto industry in the United States “.
The SEC hates Coinbase but loves Bitcoin
The United States Securities and Exchange Commission would therefore have asked Coinbase to stop trading in all cryptocurrencies other than bitcoin. A request that does not date from yesterday.
Indeed, even before the SEC openly declared its anti-crypto war, the CEO of Coinbase explained to the Financial Times that the SEC had identified 13 cryptocurrencies as securities, reviving the endless debate around the classification of cryptocurrencies as a security.
However, carried by the Gary Gensler’s zealit would seem that the American regulator has reversed course, as the CEO of Coinbase explains:
“They came back to us and they said. . . we believe that every asset other than bitcoin is a security (…) And, we said, well, how do you come to that conclusion, because that’s not our interpretation of the law. And they said, we’re not going to explain it to you, you have to delete all assets other than bitcoin. »
Faced with this affront, Brian Armstrong then explains that the crypto platform had no choice but to go to court, emphasizing, from the outset therefore, the bellicose remarks of the regulator towards cryptocurrencies. Not long ago, Ripple was winning a small battle facing the American regulator, encouraging Coinbase, carried by Brian Armstrong, to follow the movement. Case to follow.
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