• Coinbase affirms support for tokens amid SEC lawsuit, with no delistings planned
• BinanceUS has announced plans to delist several trading pairs and pause OTC trading
• Cardano developer Input Output is striving to demonstrate that its ADA token should not be considered a security
Coinbase Affirms Support for Tokens
Crypto exchange Coinbase will support tokens and services named in the securities case, despite the recent charges filed by the US SEC. In a June 7 interview with Axios, Coinbase CEO Brian Armstrong stated that the exchange has “no plans to delist any of these assets” and will continue operating “business as usual” until a court determination is made.
BinanceUS Contrasts Coinbase’s Approach
Although Coinbase remains steadfast in its commitment to avoid delistings, its competitor Binance.US, facing its own SEC charges, has already announced plans to delist several trading pairs and pause over-the-counter (OTC) trading. It’s important to note that these delistings do not extend to Binance.com, the global arm of the company.
ADA Token Not Considered Security
Meanwhile, one of the crypto projects named in the SEC’s case, Cardano developer Input Output, is striving to demonstrate that its ADA token should not be considered a security, contrary to the allegations made in the SEC lawsuit.
Coinbase Navigating Regulatory Landscape
As the legal battle between Coinbase and the SEC unfolds, the exchange’s stance on not delisting tokens under scrutiny showcases its determination to support a wide range of cryptocurrencies. Coinbase’s CEO and team remain focused on navigating the regulatory landscape while continuing to provide services to its user base.
SEC vs Coinbase Lawsuit History
Notable past decisions from Coinbase include halting trading of XRP due to Ripple’s SEC case as well as delisting BUSD from Binance and Algorand from staking options due regulatory concerns. The exchange also discontinued its Lend program last year in response to legal threats from the SEC.