The post SEC Halts Altcoin Trading on Coinbase, Bitcoin Escapes Restrictions! appeared first on Coinpedia Fintech News
The US Securities and Exchange Commission (SEC) requested that Coinbase halt trading in all cryptocurrencies except bitcoin before suing the exchange last month for failing to register as a broker. According to Coinbase CEO Brian Armstrong, The SEC also advised that Coinbase delist every one of the 200+ tokens it offers; this could have left the vast majority of American crypto firms operating illegally unless they registered with the SEC. Armstrong said it was “an easy choice” to go to court to find out what the legal position was. Crypto has previously been a gray area in regards to regulation, with the SEC and Commodity Futures Trading Commission juggling for control.
Source: https://coinpedia.org/crypto-live-news/the-sec-halts-trading-for-all-cryptocurrencies-except-bitcoin-on-coinbase-before-suing/