Coinbase CEO says the lawsuit will provide clarity on crypto rules, claims team is “confident in our facts and the law.”
In his Twitter response, Armstrong claimed that the lawsuit against Coinbase is “very different from others out there,” as it is “exclusively focused on what is or is not a security.” This makes the team “confident in our facts and the law.” He claimed that the U.S. government can’t even agree with itself as to which cryptocurrencies are securities, as “the SEC and CFTC [Commodity Futures Trading Commission] have made conflicting statements.
Armstrong expressed hope that court proceedings will allow crypto exchanges to “finally” get clarity on how to comply with securities laws. He also praised recent attempts by Congress to pass crypto legislation, stating that “this is why the US congress is introducing new legislation to fix the situation."The response from Armstrong is the latest in a series of legal filings and public statements between the exchange and the SEC since March.
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