Brian Armstrong, CEO, Coinbase, a crypto exchange, publicly responded to the United States Securities and Exchange Commission (SEC) charges made against his company, stated Cointelegraph. Supposedly, they tweeted the team is “confident in our facts and the law” and that it accepts the opportunity “to finally get some clarity around crypto rules”.
Sources revealed that on June 6, 2023, SEC complained against Coinbase, for operating securities exchange, broker-dealership and clearing house without registering with the commission. It is estimated that about 13 different cryptocurrencies were sold by Coinbase such as a Cardano, Solana, Polygon, and Filecoin, among others, Cointelegraph added.
It is expected that Armstrong believes that court proceedings will allow crypto exchanges to “finally” know how to maintain the safety modules. Supposedly, he supported the Congress’s initiative to pass crypto legislation, adding “this is why the US congress is introducing new legislation to fix the situation,” Cointelegraph concluded.
(With insights from Cointelegraph)
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