News - SEC: Coinbase must remove all crypto - except Bitcoin

By Ted Maas

SEC: Coinbase must remove all crypto - except Bitcoin

The U.S. financial regulator demanded that the largest U.S. crypto exchange stop trading other coins. Now both parties are in court.

A complete trading halt for all coins except Bitcoin: that, according to the Financial Times, is what the U.S. financial regulator SEC demanded of Coinbase, the largest U.S. crypto exchange. According to Brian Armstrong, CEO of the company, the SEC has said that all coins except Bitcoin are securities and therefore trading them would be illegal. The statements are consistent with older statements by the SEC. The U.S. financial regulator, in turn, denies these reports.

Coinbase and the SEC have been in court since June 6, 2023. Coinbase violated U.S. financial laws, including: illegal securities trading, according to the U.S. financial regulator's indictment.

A U.S. court recently dismissed a similar lawsuit filed by the SEC against Ripple. The ruling is considered an important milestone.

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