The CEO of Coinbase welcomes the legal dispute of the SEC: We will do the job

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Brian Armstrong, CEO von Coinbase, lässt sich von der neuen Klage der US-Börsenaufsicht SEC (Securities and Exchange Commission) gegen seine Börse nicht erschüttern. Sowohl der Geschäftsführer als auch sein Unternehmen antworteten am Montag mit kurzen Argumenten, warum Coinbase im Rechtsstreit mit der Regulierungsbehörde als Sieger hervorgehen wird. Eine Chance, Klarheit zu gewinnen In einem twittern Am Dienstag sagte Armstrong, dass Coinbase „stolz“ sei, die Kryptoindustrie in seinem SEC-Gerichtsstreit zu vertreten und „endlich Klarheit über Kryptoregeln zu erlangen“. Armstrong kritisiert die SEC seit Jahren dafür, dass sie nicht klarstellt, wie Wertpapiergesetze auf die Kryptoindustrie anwendbar sind, etwa welche digitalen Vermögenswerte als …
Brian Armstrong, CEO of Coinbase, cannot be shaken against his stock exchange from the new complaint from the US stock exchange supervision SEC (Securities and Exchange Commission). Both the managing director and his company answered on Monday with short arguments why Coinbase will emerge as the winner in the legal dispute with the regulatory authority. A chance to win clarity in a tweet on Tuesday said Armstrong said that Coinbase was "proud" to represent the crypto industry in its second court dispute and "finally gain clarity about cryptor rules". Armstrong has been criticizing the SEC for years that it does not clarify how securities laws can be applied to the crypto industry, such as which digital assets as ... (Symbolbild/KNAT)

Brian Armstrong, CEO from Coinbase, cannot be shaken against his stock exchange from the new lawsuit of the US stock exchange supervision SEC (Securities and Exchange).

Both the managing director and his company answered on Monday with short arguments why Coinbase will result in the regulatory authority as the winner.

an opportunity to win clarity

in a tweet On Tuesday Armstrong said that coinbase was "proud" to represent the crypto industry in his second trial and "finally to get clarity about crypto rules".

Armstrong has been criticizing for years that it does not clarify how securities laws are applicable to the crypto industry, such as which digital assets are considered securities and which are considered goods. The exchange sues The US stock exchange supervisory authority SEC failed in April to respond to the petition of coinbase to provide digital traded securities. However, the regulatory authority claimed that there are already clear rules and regulations for cryptocurrencies.

One of the main allegations of the Sec is that Coinbase failed to register for various securities products offered by it to the agency. Armstrong, however, argued that there is no reasonable way for this.

"We tried it repeatedly-so we do not list any securities," he said. In addition, the SEC and the CFTC have made contradictory statements about which crypto-assets are considered securities-including Ethereum (eth) and tether (USDT).

The US Congress is already trying to introduce crypto-specific laws to remedy the situation, but the country is still behind the "rest of the world" when it comes to determining industry rules.

"We will do the work," he said. "In the meantime, let's all progress and build up as an industry. America will end up."

The numbers

in a video published on Tuesday by Coinbase provided the stock exchange statistics that show their commitment to compliance with legal regulations and the lack of cooperation between the SEC.

The exchange noted that it mentioned his "use" 57 times in his S1 report that the SEC approved. In addition, it met 30 times privately with the SEC and asked for advice on how to protect the legal conformity.

In the meantime, the SEC 0 has set comprehensive rules for crypto and uses a test in 1946 to determine whether tokens are securities (the Howey test).

Critics of Coinbase, however, pointed out that the SEC in its approval of the S1 of the stock exchange made it clear that it did not necessarily appreciate the legality of the underlying business of Coinbase.

to the people who post that it is unfair that the SEC submits a lawsuit after it has approved the IPO of Coinbase: please stop. @Coinbase It was warned that the approval of the registration declaration does not mean that business is based. It is in the complaint. pic.twitter.com/vvrywd4pkd

- Joe Carlasare (@Joecarlasare) 6. June 2023

The contribution of the CEO of Coinbase welcomes the legal dispute of the SEC: "We’ll Get the Job Done" first appeared on Cryptopotato.

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