Coinbase faces SEC over its intention to limit cryptocurrencies to just Bitcoin
While the fact that a fierce campaign against cryptocurrencies has been unleashed globally over the last decade threatens the development of the market, the fact that today Coinbase is going head to head with the SEC over its intention to limit cryptocurrencies to Bitcoin only, would this really mean the end of cryptocurrencies?
Now, the point that Coinbase is facing the SEC for its intention to limit cryptocurrencies to Bitcoin only, is the main element that motivated Brian Armstrong to talk about the end of cryptocurrencies, which in my opinion has multiple readings for and against
Therefore, and according to the SEC, "everything that is not Bitcoin is a security and needs to be registered as such. Coinbase, the cryptocurrency platform, did not stand idly by and decided to go to court to defend its right to offer more than 260 cryptocurrencies to its users."
Hence, Brian Armstrong (CEO of Coinbase), has stated "that delisting all assets except Bitcoin would have meant the end of the cryptocurrency industry in the U.S. And that's not good for anyone, not even the SEC."
In correspondence with information disclosed in cointelegraph "People who want to invest in cryptocurrencies, have to take into account many factors. It's not just about whether Bitcoin is going up or down, or whether Ethereum is better than Dogecoin. You also have to be aware of what the regulators say, those gentlemen who set the rules of the game and can change them from one day to the next."
In conclusion, although Brian Armstrong's arguments are in defense of Coinbase and his speech only seeks support from the crypto community, it is no less true that despite the regulations, cryptocurrencies are here to stay and that has been demonstrated since the very origin of Bitcoin.
SOURCES CONSULTED
Cointelegraph. What prompted Coinbase CEO Brian Armstrong to talk about the "end of cryptocurrencies"?. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Theguardian
hi dear friend @lupafilotaxi
there are many successful products outside the united states, such as wechat, alibaba, clothing brands and many more things, if the SEC attacks cryptocurrencies it is a hard blow but the SEC does not control the world.
god bless you