SEC Requests Coinbase to Cease Trading All Cryptocurrencies Except Bitcoin

The U.S. Securities and Exchange Commission (SEC) reportedly asked Coinbase to stop trading in all cryptocurrencies except bitcoin before suing the exchange for failing to register as a broker. Coinbase CEO Brian Armstrong revealed that the SEC made this recommendation, claiming that every asset other than bitcoin is a security. The SEC and Coinbase are currently engaged in a legal battle, with Coinbase arguing that the SEC's actions violate due process. This development sheds light on the SEC's view of cryptocurrencies other than bitcoin, particularly Ether, as securities.