SEC asks Coinbase not to trade cryptocurrencies other than Bitcoin
The U.S. Securities and Exchange Commission (SEC) has asked Coinbase (COIN.O) to stop trading in all cryptocurrencies other than bitcoin, CEO Brian Armstrong said.
“At that moment, we really didn’t have a choice. Excluding all assets other than bitcoin, which is against the law, by the way, would mean, essentially, the end of the crypto industry in the US,” said Armstrong. he added.
Coinbase was accused of illegal activity by the Securities and Exchange Commission because it was unable to register as an exchange. It was also alleged that Coinbase traded at least 13 crypto...