Coinbase CEO says SEC told it to delist everything but Bitcoin: Report
Brian Armstrong claimed SEC staff said all cryptocurrencies but Bitcoin are securities and requested the exchange delist all other cryptocurrencies. Crypto exchange Coinbase was once told by the United State securities regulator to delist all cryptocurrencies on its platform except for Bitcoin (BTC), according to CEO Brian Armstrong. In a July 31 interview with the Financial Times, Armstrong revealed that the U.S. Securities and Exchange Commission wanted the exchange to delist the nearly 250 tokens on its platform prior to it filing a lawsuit against the exchange. At the time, the SEC reportedly said it believes “every asset other than Bitcoin is a security,” said Armstrong. “We said, well how are you coming to that conclusion? Because that’s not our interpretation of the law,” Armstrong added. He recounted that the regulator said “we’re not going to explain it to you, you need to delist every asset other than Bitcoin.” It’s a similar view held by SEC chair Gary Gensler who claime...