Coinbase receives SEC warning
According to Brian Armstrong, Coinbase received a similar letter to one that Kraken, another major exchange, had received not long before.
This letter, known as the SEC’s Wells notice, is an official warning from the regulator of impending sanctions against the company. The notice concerns some unnamed assets, which have been listed on Coinbase and are considered by the SEC to be securities.
Despite this warning, Armstrong, who is known as the “tank on soft tracks,” has stated that he will not back down and is prepared to go to court to meet with SEC representatives.
The SEC's position on this matter is already clear, and it's just a matter of time before other companies are targeted. But it's also interesting to consider what might happen when, and if, Coinbase and Ripple set precedents.
Despite this warning, Armstrong, who is known as the “tank on soft tracks,” has stated that he will not back down and is prepared to go to court to meet with SEC representatives.
The SEC's position on this matter is already clear, and it's just a matter of time before other companies are targeted. But it's also interesting to consider what might happen when, and if, Coinbase and Ripple set precedents.
