Coinbase executives have stated that their company has no plans to end support for tokens and services mentioned in a securities lawsuit.
Coinbase has no plans to reduce options
The U.S. Securities and Exchange Commission (SEC) filed suit against Coinbase on June 6. It identified at least 13 of the cryptocurrencies listed by Coinbase, as well as the company’s staking service, as securities or investment contracts.
Nevertheless, Coinbase has “no plans to delist any of these assets,” Chief Legal Officer Paul Grewal said in a statement to TechCrunch on June 7.
Coinbase CEO Brian Armstrong, meanwhile, told Bloomberg that the company has no plans to discontinue its staking services and that it is “business as usual.”
Despite efforts by executives to reassure users that the status quo will continue, Coinbase has historically taken away opportunities. Notably, it has halted trading in XRP since 2021, explicitly citing the SEC’s case against Ripple as the reason for that choice.
Coinbase also delisted Binance (BUSD) and removed Algorand (ALGO) from its staking options around the time of regulatory concerns, though the reasons for those delistings may only be indirectly related to regulatory events. In addition, Coinbase ended its Lend program after legal threats from the SEC in 2021.
Binance.US has already removed assets
While Coinbase plans to prevent delisting, one of its competitors has already disclosed delistings. Binance.US received its own SEC charges on June 5 and has announced that it will remove numerous trading pairs and pause OTC trading.
Those delistings do not apply to Binance.com, the global arm of the company.
Meanwhile, at least one crypto project named in the SEC’s case is trying to demonstrate that it poses no listing risk. Cardano developer Input Output has stated that its ADA token is not a security, contrary to the text of the SEC cases that mention it.
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