Crypto Chaos: The SEC Gives Coinbase This Ultimatum

Crypto Chaos: SEC Gives Coinbase an Ultimatum, Bitcoin Stays, Rest Go Away

Coinbase was asked by the U.S. Securities and Exchange Commission (SEC) to delist cryptocurrencies

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SEC asked to delist all cryptocurrencies on its platform except for Bitcoin (BTC).

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The SEC reportedly believed that every asset other than Bitcoin is a security.

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Coinbase CEO Brian Armstrong revealed this information in a July 31 interview with the Financial Times.

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The regulator did not explain its reasoning but demanded the delisting of nearly 250 tokens

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SEC Chair Gary Gensler also shares a similar view

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Stating that "everything other than Bitcoin" falls under the agency's definition of a security.

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