Brian Armstrong Declares War on the SEC: Coinbase's Bold Fightback

We do not have no need for more digital currencies “, had declared Gary Gensler on CNBC. Is this why the SEC is going after Binance and Coinbase, both registering hundreds of millions of crypto investors. In any case, the partons of these exchanges declare that they will respond to the attacks of the SEC.

Brian Armstrong up against the SEC

Following theoffensive of Coinbase decided by the SEC, his boss, Brian Armstrong laid a long tweet yesterday June 6 as a replica.

Brian Armstrong’s lengthy response to SEC attack – Source: Twitter

In regards to the lawsuit filed by the SEC against us today, we are proud to represent the industry in court to finally get some clarity on the rules surrounding cryptocurrencies.


1. The SEC reviewed our business and allowed us to go public in 2021.

2. There is no path to ‘enter and register’ – we tried, many times – so we don’t list the titles. We reject the vast majority of assets we review.

3. The SEC and the CFTC have made conflicting statements and don’t even agree on what is a security and what is a commodity.

4. That’s why the US Congress is introducing new legislation to remedy the situation, and the rest of the world is working to put in place clear rules to support this technology.

Instead of issuing clear rules, the SEC has taken a rule-by-enforce approach that is hurting America. If we have to go to court for clarity, so be it.

In case it wasn’t obvious, Coinbase’s lawsuit is very different from others – the lawsuit filed against us focuses exclusively on what is and isn’t a security. In we trust our facts and the law. »

We will prevail. In the meantime, we continue to move forward and build as an industry. America will eventually prevail. »

CZ also expects a war

The dark clouds currently hanging over Binance have not left anyone indifferent. From the upper echelons of the company, reactions have rained on the web as an affront to the SEC.

CZ was the first to come forward. In particular, he promised to maintain activities on Binance and expects cooperation with regulators.

But with the aggressiveness level displayed by Gary Gensler and its entire team, Binance and Coinbase will certainly join the ranks of SEC opponents in court in the near future. Ripple will be able to advise them at this point.

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