Brian Armstrong, the CEO of Coinbase, replied to the US Securities and Exchange Commission (SEC) complaint in a statement released today.
JUST IN: #Coinbase CEO says they will “get the job done” in court against the SEC.
— Watcher.Guru (@WatcherGuru) June 6, 2023
Specifically, Armstrong said that he was sure they would win their upcoming court case.
Additionally, he said that he is “proud to represent the industry in court to finally get some clarity around crypto rules.”
Coinbase has also put up a video that was originally posted on YouTube. The video was a response to the SEC’s Wells Notice issued to the company. The video then went into detail about the different statistics that answered the claims made by the regulatory body.
Coinbase Responds to SEC Charges
The regulatory body in the United States levied charges against two of the biggest cryptocurrency exchanges in the world. This was a big deal that shook the cryptocurrency world. Furthermore, Brian Armstrong replied to the SEC’s complaint today.
In a tweet that Armstrong posted, he pointed out a lot of facts about the charges that were made today.
Armstrong did point out that “the SEC reviewed our business and allowed us to become a public company in 2021.”
Moreover, Armstrong also noted that the company “tried, repeatedly, to register securities. Yet, because “there is no path to ‘come in and register,” most of the items they reviewed are just turned down.
Then, Armstrong talked about “conflicting statements” made by the Securities and Exchange Commission and the Commodities Futures Trading Commission (CFTC). Armstrong pointed out that Congress needed to get involved. In particular, saying that Congress is “introducing new legislation to fix the situation.”
Armstrong has shown that he is confident in the current position of the cryptocurrency exchange. In the end, he said they would “get the job done.” At the same time, this case’s legal processes should have a huge effect on how digital assets are handled in the United States.
