SEC's Strong-Arm Demand To Coinbase: A Potential Market Crash Or Boon For Bitcoin?
- 9 months ago
In the wake of the U.S. Securities and Exchange Commission's (SEC) directive to Coinbase to halt trading on all cryptocurrencies except Bitcoin, industry experts argue that these actions could violate the financial watchdog's mission of protecting investors and potentially trigger a market crash.
Experts also highlight the potential long-term benefits of Bitcoin and call for regulatory clarity to prevent businesses from moving outside the U.S.
The SEC instructed Coinbase to halt trading on all cryptocurrencies except Bitcoin, prior to initiating legal action against the company, according to the company's CEO Brian Armstrong.
The SEC had recommended the delisting of over 200 tokens offered by the exchange, identifying 13 of them as securities.
However, the SEC did not provide an explanation for their conclusion, which diverges from Coinbase's interpretation of the law.
Experts also highlight the potential long-term benefits of Bitcoin and call for regulatory clarity to prevent businesses from moving outside the U.S.
The SEC instructed Coinbase to halt trading on all cryptocurrencies except Bitcoin, prior to initiating legal action against the company, according to the company's CEO Brian Armstrong.
The SEC had recommended the delisting of over 200 tokens offered by the exchange, identifying 13 of them as securities.
However, the SEC did not provide an explanation for their conclusion, which diverges from Coinbase's interpretation of the law.