Coinbase is about to go to court with the SEC: Brian Armstrong

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Von Krypto News Österreich

Laut CEO Brian Armstrong steht Coinbase kurz vor einem Rechtsstreit mit der Securities and Exchange Commission (SEC), um die lang erwartete Klarheit darüber zu erreichen, wie Bundeswertpapiergesetze auf die Kryptoindustrie anzuwenden sind. Sollte sich die Situation der Regulierungsbehörden nicht verbessern, sagte die Exekutive, dass die Börse einen Umzug aus den Vereinigten Staaten in Betracht ziehen würde. Wird Coinbase ins Ausland ziehen? In einem Interview mit CNBC am Dienstag rief Armstrong „bestimmte Aufsichtsbehörden“ dafür auf, dass sie in den USA einen „Regulierungs-durch-Durchsetzungs-Ansatz“ für Krypto verfolgen – ein Begriff, den er zuvor verwendet hat, um die Behandlung der Branche durch die SEC …
According to CEO Brian Armstrong, Coinbase is about to have a legal dispute with the Securities and Exchange Commission (SEC) in order to achieve the long -awaited clarity about how Federal Working Act is to be applied to the crypto industry. If the situation of the regulatory authorities does not improve, the executive said that the stock exchange would consider moving from the United States. Will Coinbase move abroad? In an interview with CNBC on Tuesday, Armstrong called on "Certain Supervisory Authorities" to pursue a "regulation-through enforcement approach" for crypto in the United States-a term that he previously used to treat the industry through the sec ... (Symbolbild/KNAT)

According to CEO Brian Armstrong, Coinbase is about to have a legal dispute with the Securities and Exchange Commission (SEC) in order to achieve the long-awaited clarity about how federal value paper laws are to be applied to the crypto industry.

If the situation of the regulatory authorities should not improve, the executive said that the stock exchange would consider moving from the United States.

Will Coinbase move abroad?

In an interview with CNBC on Tuesday Armstrong called "certain supervisory authorities" to pursue a "regulatory enforcement approach" for crypto in the United States-a term that he previously used to describe the treatment of the industry by the SEC. In view of this aggressive approach, he admitted that Coinbase has already checked other countries with regard to the possible establishment of new headquarters.

"Great Britain is actually a very good one for us," said the CEO. The region is the country with the second highest revenue of Coinbase, and its leaders have expressed promising interest in transforming the nation into a web3 hub.

In particular, Coinbase is under the shelling of the SEC, the issued at the beginning of this month received a wells notice that represents a warning before the intention. It found that Coinbase had violated Federal Working Laws, which Armstrong suspected that they are connected to the assets noted on the stock exchange Discard as a service product

The CEO said that the Sec has never informed the stock exchange about what could do better to stay compliant with more than 30 meetings last year.

"I think we actually have to go to court in the end to get the clarity we need and create the case law," he said and referred to precedents.

a lasting litigation

One of the best known, ongoing lawsuits of the SEC against the crypto industry began with Ripple in December 2020 when the agency claimed that the company's XRP token was an unregulated security. Armstrong said that Coinbase was prepared that his own complaint with the agency would become a similar years of debacle if necessary to obtain legal clarity.

"We never strive for a legal dispute, but in this case they seem to have initiated it," he added. "The law is on our side"

On another front, the SEC fights against Grayscale-the world's largest Bitcoin fund-which the agency sued last June, because it "arbitrarily" refused to approve the application of the company for the introduction of a Bitcoin Spot ETF.

during the first oral hearing In the beginning of March the judges were skeptical about the arguments of the sec that it was a significant difference between the requirements for the approval of bitcoin futures ETFs and Spot ETFs. The event led GBTC to pump 16 % that day.

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