Coinbase Ready Against SEC On Green Table

The Coinbase crypto exchange will face SEC lawsuits in court. (Photo; Doc. AltcoinBuzz)

JAKARTA - Brian Armstrong, Chief Executive Officer (CEO) Coinbase, firmly defended the company from lawsuits filed by the United States Securities and Exchange Commission (SEC).

In the interview, Armstrong revealed that the lack of clear guidelines in the US for the cryptocurrency sector was a fundamental problem in this case. He even expressed his readiness to take the case to the US High Court if necessary.

Armstrong insists that Coinbase has enough finances, with more than $5 billion on the company's balance sheet, to address operational costs and legal costs that may arise.

With confidence, he stated that they would be fine if necessary to face this legal process. Despite realizing that this process may take a long time, Armstrong remains optimistic.

Armstrong also underlined the fact that in the SEC's lawsuit against Coinbase, only a small amount of assets traded on their platform were categorized as securities.

Of the more than 200 traded assets, only 13 were affected by securities arrangements. He argues that this shows a small proportion in Coinbase's overall trading activity and supports the company's position.

In addition, Armstrong also distinguishes Coinbase from other crypto exchanges such as Binance which is also facing lawsuits from the SEC. He highlighted the fact that Coinbase did not face similar accusations with Binance regarding misuse of customer funds and violations of US regulations.