Coinbase CEO Calls Out the SEC

The CEO and co-founder of Coinbase — Brian Armstrong, calls out the SEC for its selective suspicious behavior. Specifically, Armstrong explains in detail why the SEC is behaving sketchily over a 21-tweet thread on Twitter.

Coinbase CEO Calls Out the SEC

To start off, he tells his audience the situation in the form of a story. In this order, he says millions of crypto holders are earning yield from their assets for over a couple of years now. So far, it seems to be a safe bet, participants are willingly lending assets and earning returns.

Seeing as very many companies are offering the same service, Coinbase made the decision to do the same. A few weeks before going live, Coinbase gave the SEC a heads up for a briefing. Puzzlingly, the SEC’s response came with labeling this service as security.

Befuddled, Coinbase requested them to elaborate on how lending could be a security. The SEC refused and instead demanded documents and references, which Coinbase happily provided. Even after this, the regulator refused to explain their stance and instead warned Coinbase about a lawsuit if the exchange ever went live with the service.

This shows that the regulator made no effort to effectively communicate. Armstrong goes on to explain how unfair this take is. Meanwhile, Armstrong met with other much more amiable regulators.

The CEO is beside himself, he says the exchange is all for following the law but what must be done if the law is unclear? Besides, in this case, the SEC is clearly being very fishy. Why is it only Coinbase that is being troubled when other firms are offering the same service without being reprimanded?

Daily Crypto Signals

This is where Armstrong calls out the SEC. He says, if the regulator really has no agenda on controlling who gets to offer certain services, then why not set a baseline law for all? He says the SEC should treat all similar service providers equally. So, the SEC must either let Coinbase go live with this service or begin to hinder others who have already gone live.

As a final note, he says Coinbase’s doors are open. The exchange is willing to listen to what the SEC has to say about the service being security. He finishes off the thread by saying that America will benefit if the two can work together and come to a fair resolution.

Coinbase CEO Calls Out the SEC

Live CrytoCurrency Signals News Crypto Signals Learning Guides, to help you get started with trading. Grow your Learning knowledge on the capital markets.

CryptoCurrency Signals via Telegram

URL FxPremiere.com was Founded in 2010. Since then has grown with over 23,000 live subscribers globally. Daily Crypto Trading Alerts are sent by our VPS Networks worldwide via Telegram.

Up to 15 Crypto Signals Daily!

Subscribe to our Signals and start receiving Crypto Day Trading Signals from the very next trade! Crypto Signals News Guides with help you trade!

Free Crypto Signals

FxPremiere Group has helped over 5,000 Crypto Affiliates earn up to $600 CPA on referrals and has grown immense revenue streams for online affiliates. Trading Crypto has never been easy.

Crypto Signals

The World of Crypto Trading is growing day by day and its crucial to keep up to date with trends and market analysis.

CryptoCurrency Telegram Signals

Get access to over 20 Crypto Signals sources of Daily via Telegram in a VIP Channel –Ethereum (ETH), BitCoin (BTC) Litecoin (LTC), Cardano (ADA), Polkadot (DOT)and many more.. Up to 11 Crypto Signals per day! We Also offer Forex Signals from our Umbrella Company FxPremiere.com

FxPremiere Group has helped over 5,000 Forex Affiliates earn up to $800 CPA on referrals and has grown immense revenue streams for online affiliates.

Telegram Crypto Signals

Trading Forex has never been easy. The World of Forex Trading is growing day by day and its crucial to keep up to date with trends and market analysis. Here at FxPremiere Group we keep you updated with the Compare Forex Brokers charting system, as well as sending you Direct Forex Signals by our Telegram Services globally daily.LIVE CRYPTO NEWS