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Coinbase executives have stated that their company does not intend to end support for tokens and services named in a securities case.
Coinbase doesn’t intend to reduce options
The U.S. Securities and Exchange Commission (SEC) filed charges 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 does not intend to discontinue its staking services and that it is “business as usual.”
Despite executives’ attempts to assure users that the status quo will continue, Coinbase has removed opportunities in the past. Notably, it has halted XRP trading since 2021, and it explicitly cites 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 its reasons for those delistings may be only tangentially connected to regulatory events. Additionally, Coinbase ended its Lend program following legal threats from the SEC in 2021.
Binance.US has already delisted assets
Though Coinbase plans to avoid delisting, one of its competitors has already revealed delistings. Binance.US received its own SEC charges on June 5, and it has announced that it will delist numerous trading pairs and pause OTC trading.
Those delistings do not extend to Binance.com, the company’s global arm.
Meanwhile, at least one crypto project named in the SEC’s case is attempting to show that it does not pose a listing risk. Cardano developer Input Output has stated that its ADA token is not a security, contrary to the text of the SEC cases it is named in.