Coinbase executives said the company has no intention of ending support for the tokens or services named in the securities lawsuit.
Coinbase Not Going To Reduce Options
The U.S. Securities and Exchange Commission (SEC) sued Coinbase on June 6. Identified at least 13 of Coinbase’s listed cryptocurrencies and its staking service as securities or investment contracts.
Despite this, Coinbase “has no plans to delist any of these assets,” Chief Legal Officer Paul Grewal said in a statement to TechCrunch. June 7.
Meanwhile, Coinbase CEO Brian Armstrong said: told Bloomberg The company said it had no intention of discontinuing its staking service and was operating “as usual.”
Despite management’s attempts to assure users that the status quo will continue, Coinbase has eliminated opportunities in the past. Notably, they have stopped trading XRP after 2021. quoting explicitly The reason for that choice is the SEC lawsuit against Ripple.
Coinbase also delisted Binance (BUSD) and removed Algorand (ALGO) from its staking options around the time of regulatory concerns, but the reasons for those delistings were regulatory events and just a few. maybe only slightly related. Additionally, Coinbase ended the Lend program in 2021 following legal threats from the SEC.
Binance.US has already delisted assets
Coinbase plans to avoid delisting, but one of its competitors has already announced its delisting. Binance.US announced the delisting of a number of trading pairs and the suspension of OTC trading following its own SEC complaint on June 5.
These delistings fall short of the company’s global arm, Binance.com.
Meanwhile, at least one crypto project named in the SEC lawsuit seeks to show that it poses no public listing risk. Cardano developer’s input His output states that her ADA tokens are not securities, contrary to the body of his SEC lawsuit in which ADA tokens are specified.
A post first appeared on CryptoSlate stating that Coinbase has no plans to delist its assets or terminate its staking service.
