The regulator reportedly wanted Coinbase to cease trading all cryptocurrencies except Bitcoin previous to its authorized action towards the exchange. In a June lawsuit, the SEC accused Coinbase of working illegally because it did not register as an exchange. The SEC is engaged in a multifront courtroom battle with several entities - together with Coinbase competitor Binance as well as Ripple Labs, the issuer of the XRP token - that might decide how the nation’s practically 100-yr-old securities legal guidelines pertain to the nascent digital-asset industry. The U.S. Securities and Exchange Commission (SEC) reportedly requested Coinbase to stop trading in all cryptocurrencies besides Bitcoin (BTC) earlier than suing America’s largest crypto exchange final month, according to a report by the Financial Times citing CEO Brian Armstrong. Dr. Hawass: Oh, a month, it depends what this particular person desires to do. SEC Chairman Gary Gensler has mentioned he doesn’t imagine bitcoin is a safety and due to this fact its markets aren't regulated by his company, however in a lawsuit final month, the company listed 13 tokens

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