Coinbase CEO Reveals SEC's Request to Limit Trading to Bitcoin

The U.S. Securities and Exchange Commission (SEC) has reportedly asked Coinbase, a leading cryptocurrency exchange, to halt trading in all cryptocurrencies except for bitcoin. Coinbase CEO Brian Armstrong revealed this development, stating that the SEC threatened to sue the company if it launched its proposed lending product. The SEC has been increasing its scrutiny of the cryptocurrency industry, particularly in relation to potential securities violations.