Brian Armstrong confirmed that Coinbase is standing with full confidence against the American securities regulatory body’s lawsuit.
Coinbase is a top-ranked crypto exchange. The services of this exchange are available globally. In America, this exchange is known for its highly regulated crypto services. On 6 June, the United States Securities and Exchange Commission (SEC) sued the Coinbase exchange over alleged Federal Securities laws violations.
Coinbase CEO Brian Armstrong ensured that the services of the Coinbase exchange remain open as usual and also said that the Coinbase legal team is confident to defend the Coinbase firm against all the SEC’s charges.
Armstrong said that there are several facts & also rules in favour of the Coinbase exchange that will help Coinbase to defend against the SEC.
The Coinbase CEO reminded the crypto community that Coinbase went public because it received approval from the SEC body.
And also confirmed that Coinbase rejected several crypto assets listing to comply with the federal securities laws and also approached the SEC agency several times to get clarity on the laws & rules but they never responded.
According to Armstrong, the American financial regulatory bodies CFTC & SEC are already in conflict over their statement, so it is very tough to understand which crypto is Commodity & which one is Security.
Furthermore, Armstrong said that SEC has no framework, rule, or any kind of approach for the crypto companies, so here SEC is harming American crypto investors.
In the last, Coinbase CEO said that Coinbase is different from other crypto firms and here the Coinbase team will do its work confidently, where it will also focus to build the industry.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.