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Coinbase clarifies CEO comments on SEC investigation

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Coinbase has distanced itself from CEO Brian Armstrong’s statements, which suggested that the SEC requested the delisting of all non-Bitcoin crypto assets.

Earlier on Monday, July 31st, Armstrong claimed that during an investigation, the SEC made extensive demands, treating all non-Bitcoin assets as securities and urging Coinbase to “delist every asset other than Bitcoin.”

However, Coinbase denied that the SEC made such demands and called the Financial Times’ coverage inaccurate. Before litigation, the company clarified that the SEC did not request the delisting of specific assets, emphasizing the lack of context in the published interview.

In addition, the SEC spokesperson in the original Financial Times article denied asking the exchange to delist any specific assets. In response to Armstrong’s comments, another SEC spokesperson clarified that individual staff members may express their views on securities law, but these views do not necessarily reflect those of the SEC.

The SEC filed charges against Coinbase on June 6, labeling certain assets like Solana (SOL), Cardano (ADA), and Polygon (MATIC) as securities. However, the filing did not state that all non-Bitcoin assets are securities or request their delisting. Instead, it seeks to require Coinbase to pay penalties and comply with yet-to-be-determined injunctions.

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