.coinbase could be forced to delist 13 tokens, including Cardano
, Input Output Global , the developer behind the Cardano blockchain, has firmly rejected the SEC's assertion that Cardano's native token, ADA, should be classified as a security.
Earlier today, Coinbase filed a motion to dismiss the lawsuit, citing the recent decision in the Ripple case to bolster its case against the SEC.dismissed the idea that Coinbase could relocate to more crypto friendly countries amid ongoing regulatory scrutiny in the U.S., contrary to recent speculation spurred by the firm's procurement of a license in Bermuda.
This clarification comes after earlier reports about the firm's acquisition of a Bermuda license. Significantly, Armstrong emphasized that Coinbase has no backup plan for relocating its operations. The exchange is committed to staying in the U.S., with its international licenses serving as a mechanism for global expansion rather than a contingency against domestic regulatory challenges.previously characterized the crypto market as being"rife with non-compliance.
In 2022, the exchange's U.S. revenue was nearly $2.7 billion, dwarfing its international earnings of just over $500 million. Armstrong reassured readers that even in the event of a loss in the SEC lawsuit, Coinbase would remain a prominent player in the American cryptocurrency industry.
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