Brian Armstrong shared that Coinbase is fully prepared for a years-long legal battle with the SEC following the regulator's warning over potential securities law violations.
United States cryptocurrency exchange Coinbase is gearing up for a lengthy legal battle with the Securities and Exchange Commission after the regulator warned the company of potential securities law violations, CEO Brian Armstrongon March 22, indicating a possible enforcement action. The notice is usually the last step before the regulator files charges.
“We’ve met with them over 30 times in the last year … never got a single piece of feedback from them about what we can be doing better or differently, and then this Wells Notice arrived. I think we’re going to have to actually end up going to court to get the clarity we need and create the case law.”
Armstrong said his company is prepared for a lengthy battle with the SEC, if necessary. Armstrong explained to CNBC that while litigation is not a preferred outcome, Coinbase may need to go to court to gain the clarity it requires. The CEO also criticized the SEC's lack of clarity for companies in the crypto industry, accusing the regulator of an"abdication of responsibility" and failing to publish a clear rulebook for the market.
During a fintech event in London on April 18, Armstrong revealed that Coinbase might consider relocating from the U.S. due to the lack of regulatory clarity. He mentioned that the company is currently looking at other markets, with the
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coinbase Could Move Away From U.S. if No Regulatory Clarity: CEO Brian Armstrong.coinbase CEO brian_armstrong said 'anything is on the table' including relocating if there isn't greater regulatory clarity in the U.S. JamieCrawleyCD reports.
Read more »
SEC charges crypto exchange Bittrex and former CEO with flouting securities lawsThe U.S. Securities and Exchange Commission on Monday charged crypto trading platform Bittrex Inc. and its co-founder and former CEO William Shihara with...
Read more »
US crypto exchange Bittrex faces potential action from SEC: ReportBittrex crypto exchange has allegedly violated laws by doing business as an exchange and broker-dealer without a registration, according to the SEC.
Read more »
The Very Best Lines From Season 4, Episode 4 of ‘Succession’Gerri for CEO. Gerri for CEO of everything!
Read more »
Amazon CEO Andy Jassy is no longer an 'overpaid CEO': advocacy groupAmazon CEO Andy Jassy is no longer an 'overpaid CEO' as his pay dipped in 2022, shareholder advocacy group says
Read more »
Ether’s Strong Price Action May Continue Until the End of the Month: Coinbase.coinbase says Ethereum's successful Shapella upgrade supported better than expected price action for ether, which could continue through the end of April. By willcanny99
Read more »