“All we got back was a lawsuit” - Coinbase CEO Brian Armstrong Chia after more than 30 attempts to negotiate with the US Securities Commission (SEC).
Chia in an interview with Decrypt , Coinbase CEO Brian Armstrong criticized the SEC for acting unilaterally, despite Coinbase's previous efforts to seek clarity from the agency. .
In an exclusive interview with Decrypt, @coinbase CEO @brian_armstrong says the SEC isn't being very cooperative:
— Decrypt (@decryptmedia) November 29, 2023
"We haven't really gotten any feedback from them about which assets they believe are securities and which they believe are not."
Read more: https://t.co/CUaldKfwTY
The CEO said:
“Coinbase has been in talks with the SEC more than 30 times in the past 18 months. We haven't actually received any feedback from the agency on which assets they believe are securities and which assets they believe are not, with the exception of Bitcoin."
“All we got were Wells Notices,” Armstrong Chia , referring to when Coinbase first received a warning from the SEC about the violations back in March .
According to Brian Armstrong, this type of environment lacking regulatory guidance has created legal challenges for Coinbase as well as other companies, causing them to look for areas other than the US to operate.
Coinbase's case is quite similar to Binance, the exchange also said that it had actively complied and discussed the SEC's requirements before being sued, but was turned away by the SEC and changed its status. hostility. On the other hand, in the case of Binance, the agency responded that the exchange was not really enthusiastic about providing documents to the agency , and overall, in the SEC's view, it had a reactive and uncooperative attitude.
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