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

Posted- 31 July 2023

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

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

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

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

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

SEC Chair Gary Gensler also shares a similar view

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