Before the US Securities and Exchange Commission took Coinbase to court, the regulator asked the crypto-exchange platform to delist all tokens but bitcoin, CEO Brian Armstrong disclosed toIf Coinbase followed through, the recommendation would have halted the trading of over 200 crypto assets. The SEC argued that, aside from bitcoin, each of the cryptocurrencies was an unregistered security.
According to him, delisting virtually all its tokens would have led to the end of the US crypto industry, making the choice of what to do easy, he said:"Let's go to court and find out what the court says."in early June, accusing it of not registering as an exchange and listing 13 traded cryptocurrencies the regulator deemed as unregistered securities. , also citing the unauthorized sale of securities.
A Coinbase spokesperson said the SEC didn't request that Coinbase delist specific assets, adding that such a request requires a majority vote from the commissioners.
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