SEC did not ask Coinbase ‘at any point’ to delist assets, the exchange admits

Coinbase has retracted its earlier statement that the US SEC had requested it to suspend all trading except for Bitcoin.

Coinbase’s CEO Brian Armstrong previously said that the U.S. Securities and Exchange Commission had requested it to suspend all trading activities except for Bitcoin (BTC) in an interview with the Financial Times.

The CEO’s announcement generated widespread discourse across various platforms, triggering crucial conversations about crypto regulation and its impacts on market dynamics. Armstrong expressed his concerns about the SEC’s actions, suggesting that it “could potentially stifle innovation and limit the freedom and growth of the burgeoning crypto industry.”

Both the SEC and Coinbase went public later in the day to clarify previous statements.

A Coinbase representative clarified to DL News that “prior to litigation, the SEC did not at any point request that Coinbase delist any specific assets,” noting that the FT article was inaccurate, while the SEC spokesperson confirmed that the agency “does not ask companies to delist crypto assets.”

“In the course of an investigation, the staff may share its own view as to what conduct may raise questions for the commission under the securities laws,” they added.