CEO and Legal Officer of Coinbase react to Wells Notice of the Sec

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Brian Armstrong, the Chief Executive Officer of the American crypto exchange Coinbase, and Chief Legal Officer of the company, Paul Grewal, reacted to a wells notic that was published by the US stock exchange supervisory authority (SEC) to prepare enforcement measures.

In a recently published YouTube video, the executives of Coinbase insisted that the notification of the Sec was unnecessary. The US government still has to develop clear rules for the crypto industry, and the commitment of the stock exchange for compliance with legal regulations has not fluctuated.

Coinbase reacts to Wells Notice via Vide

remember that on March 22nd, after a series of investigations, the SEC issued a message against Coinbase, in which it is claimed that the platform offers not registered securities. While Armstrong and Grewal announced the development on Twitter on the same day, they expressed their disappointment with the decision of the agency for a legal dispute over a constructive dialogue that the exchange was targeted in recent years.

At this point, the managers said that Coinbase had complied with the securities laws in his asset lists and pilot services. You kept the same attitude and confirmed your views in the video yesterday.

"We strive to work within the regulatory perimeter, and we want to see a clear market structure for the trade in crypto value papers. Not all crypto-assets are securities. There are also crypto goods, there are stable coins, there is crypto that is crypto. Armstrong.

Coinbase doubles on crypto framework request

In addition, the CEO argued that the publication of a Wells Notice at this stage, in which America has no clear set of rules for the crypto industry, was unconstructive and bad. He added that Coinbase was willing to defend his position in court, but it does not have to happen because the stock exchange for a "real dialogue" with the regulatory authorities was ready for the industry.

almost at the same time when the video was posted, Grewal sat on stage and spoke to an audience in Austin, Texas, at Consensus 2023, a crypto event organized by Coindesk. The legal nurse repeated his thoughts on this matter.

In addition to Armstrong, Grewal insisted that Coinbase did not write down securities due to its robust process based on the SEC guidelines. He announced that the stock exchange rejected about 90 % of the assets tested for the notation.

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