Will Coinbase fight SEC lawsuits?

Brian Armstrong, CEO and Co-Founder of Coinbase, speaks during the Milken Institute Global Conference on May 2, 2022 in Beverly Hills, Calif. Coinbase has vowed to fight the SEC's lawsuits. In crypto, sentiment is critical, and the industry has had a rough ride since last year, with the collapse of FTX.

Is Coinbase a Securities Exchange?

As with Binance on Monday, the SEC complained that Coinbase had failed to register as a securities exchange, broker and clearing house as required by law, and it also alleged that at least 13 of the roughly 254 cryptocurrencies available on Coinbase are securities.

What if Coinbase agreed?

According to Brian Armstrong, if Coinbase had agreed, the vast majority of the American crypto businesses would risk operating outside the law unless they registered with the SEC © Reuters Oversight of the crypto industry has hitherto been a grey area, with the SEC and the Commodity Futures Trading Commission jockeying for control.