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Coinbase CEO: The SEC told us "we believe every asset other than bitcoin is a security."

That's the statement from Brian Armstrong to the Financial Times, about the company's choices that led to a lawsuit from the US Securities and Exchange Commission.

We really didn’t have a choice at that point, delisting every asset other than bitcoin, which by the way is not what the law says, would have essentially meant the end of the crypto industry in the US.

Armstrong claims the regulators asked Coinbase to delist basically all the over 200 tokens it trades, before the lawsuit was filed that points at 13 of them.