Crypto Mufasa
Advertise
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
  • Login
  • Register
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
Crypto Mufasa
No Result
View All Result

Home » SEC Asks Coinbase To Suspend All Crypto Trading, Except Bitcoin

SEC Asks Coinbase To Suspend All Crypto Trading, Except Bitcoin

Hania by Hania
July 31, 2023
in Crypto Exchanges
Reading Time: 2 mins read
A A
0
SEC Asks Coinbase To Suspend All Crypto Trading, Except Bitcoin
Share on FacebookShare on Twitter
ADVERTISEMENT

Coinbase CEO stated that complying with the SEC could have impacted several US crypto firms.

During a recent interview with Financial Times, Coinbase CEO Brian Armstrong stated that the U.S. Securities and Exchange Commission (SEC) asked them to halt trading for all 200 cryptocurrencies on the platform, except for Bitcoin, before suing the exchange in early June 2023.

According to the CEO of Coinbase, every cryptocurrency other than Bitcoin qualifies as a “security” in the eyes of the SEC. It was obvious that the federal securities regulator was attempting to impose its control over a wider swath of the market.

SEC Asks Coinbase To Suspend All Crypto Trading, Except Bitcoin

You May AlsoLike

OKX Pleads Guilty, Resolves DOJ Investigation with $505M Settlement

OKX Pleads Guilty, Resolves DOJ Investigation with $505M Settlement

February 28, 2025
Bitget Introduces BitEXC

Bitget Introduces BitEXC: A Customized Crypto Platform for Vietnam

December 3, 2024

 

13 of the least actively traded digital assets on Coinbase were named as securities in the US SEC’s lawsuit. The regulator claimed further that making them available to customers would subject the exchange to SEC regulation. Armstrong stated:

“They came back to us, and they said… we believe every asset other than Bitcoin is a security. And, we said, well how are you coming to the conclusion, because that’s not our interpretation of the law. And they said, we are not going to explain it to you, you need to delist every other asset other than Bitcoin”.

Armstrong added that if Coinbase accepted the SEC’s demands, it could have set an undesirable precedent that would have led to a large majority of US crypto companies breaking the law unless they registered with the Commission. In essence, it appears that the SEC tried to pressure Coinbase while the exchange resisted giving up readily.

Also Read: Coinbase Success Story: Coinbase Executive’s Remarkable Effort Recovers $322K Worth of Previously Lost Crypto

SEC vs. Coinbase

SEC Asks Coinbase To Suspend All Crypto Trading, Except Bitcoin

Coinbase, a cryptocurrency exchange, submitted a motion to dismiss all charges from the US SEC last month. Coinbase asserted that, although not registered with the SEC as a broker, it does not offer any crypto asset securities for trading.

Additionally, Coinbase disputes the SEC’s jurisdiction over investors and disputes the idea that functional separation is required by law or SEC regulations. The Chief Legal Officer, Paul Grewal, shows his willingness to actively participate in discussions with financial watchdogs and advocates for fresh legislation and rulemaking moving forward.

Tags: crypto newscrypto regulationsCryptocurrenciesUS sec
Share76Tweet48
ADVERTISEMENT
Previous Post

South Korea’s CBDC Pilot Zones Revealed: Jeju, Busan, and Incheon Chosen

Next Post

Ethical Hacker Recovers $5.4 Million in Stolen ETH to Curve Finance Amid Recent DeFi Hack

Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

Related Posts

OKX Pleads Guilty, Resolves DOJ Investigation with $505M Settlement
Crypto Exchanges

OKX Pleads Guilty, Resolves DOJ Investigation with $505M Settlement

February 28, 2025
Bitget Introduces BitEXC
Crypto Exchanges

Bitget Introduces BitEXC: A Customized Crypto Platform for Vietnam

December 3, 2024
Coinbase high listing fee
Crypto Exchanges

Coinbase Face Scrutiny Over High Listing Costs, Sparking Shift Towards Decentralized Platforms

November 5, 2024
Bitfinex to Receive 120K BTC for 2016 Hack
Crypto Exchanges

Bitfinex to Receive 120K BTC for 2016 Hack: A Major Recovery Update

October 9, 2024
Crypto.com Takes Legal Action Against SEC Following Wells Notice
Crypto Exchanges

Crypto.com Takes Legal Action Against SEC Following Wells Notice

October 8, 2024
Coinbase Clears Up Confusion Over Kamala Harris’ Crypto Donations
Crypto Exchanges

Coinbase Clears Up Confusion Over Kamala Harris’ Crypto Donations

September 10, 2024
Next Post
Ethical Hacker Recovers $5.4 Million

Ethical Hacker Recovers $5.4 Million in Stolen ETH to Curve Finance Amid Recent DeFi Hack

Discussion about this post

Live Prices

You have not selected any currency to display

Stay Connected

You May Also Like

  • Bitcoin Halving Update: Bitwise CEO's $100k Price Projection Sparks Excitement

    Why the Bitcoin Halving Is Happening Sooner Than Anticipated

    239 shares
    Share 96 Tweet 60
  • MetaMask Ethereum Wallet Expands Support for Both Bitcoin and Solana

    197 shares
    Share 79 Tweet 49
  • March 2025 Polymarket Bets Boom for Bitcoin, XRP, ETH, AI, and DOGE – The Future of Cryptocurrency Trading!

    196 shares
    Share 78 Tweet 49
  • OKB Price Prediction 2023 – 2030: Will OKB reach $200?

    201 shares
    Share 80 Tweet 50
  • November’s Bitcoin Price Forecast: A Bullish Odyssey

    196 shares
    Share 78 Tweet 49
  • About Us
  • Contact Us
  • Work With Us
  • Privacy Policy
  • Terms Of Service

© 2022-2024 CryptoMufasa - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms Of Services and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Price Predictions
  • Google News

© 2022-2024 CryptoMufasa - All Rights Reserved!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Don’t Miss Out on the Best in Crypto!

Stay ahead with a weekly digest of the top news and insights—no spam, no ads, just the essential updates delivered straight to your inbox. Subscribe now for valuable content you can trust!

johnsmith@example.com
subscribe to email

Never see this message again.