The U.S. Securities and Exchange Commission (SEC) has reportedly requested Coinbase to delist cryptocurrencies other than Bitcoin (BTC). This comes as multiple exchanges have been facing regulatory scrutiny, resulting in multiple altcoins and trading pairs delisting.

SEC Requested Coinbase to Delist Cryptos Other than BTC

The SEC has tried to stop Coinbase from offering altcoin trading solutions according to the CEO of Coinbase, Brian Armstrong. During a recent interview with Financial Times, he explained that the request would have meant “the end of the crypto industry in the U.S.”

Coinbase is one of the largest cryptocurrency exchanges in the United States and in the world after Binance. The company has been offering multiple solutions to individuals, including fiat-to-crypto (and vice versa) payments.

The request received by Coinbase was proposed as a “recommendation” from the SEC rather than an obligation. About it, Brian Armstrong said:

“They came back to us, and they said… we believe every asset other than Bitcoin is a security. And we said, well, how are you coming to that conclusion because that’s not our interpretation of the law. And they said, we’re not going to explain it to you, you need to delist every asset other than Bitcoin.”

According to data shared by CoinGecko, the top trading pairs on Coinbase are the following: