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SEC Required Coinbase to Trade Only Bitcoin, Exclude Ethereum and All Other Cryptos, Reports FT

July 31, 2023


On July 31, a report by the Financial Times reported that the U.S. Securities and Exchange Commission (SEC) had requested Coinbase to cease all cryptocurrency trading, including Ethereum, with Bitcoin being the only exception, before taking legal action against the company.

Coinbase CEO Brian Armstrong disclosed the SEC’s stance, stating that we believe all assets except Bitcoin are securities, but the regulatory body did not clarify how this conclusion was reached.

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