Coinbase Defies SEC, Vows No Asset Delistings Amid Lawsuit

US-based cryptocurrency exchange Coinbase has reaffirmed its commitment to supporting various assets despite facing allegations from the Securities and Exchange Commission (SEC) that at least 13 of them are securities. In a statement, Chief Legal Officer Paul Grewal emphasized that it's 'business as usual' for the exchange.

The SEC lawsuit has not prompted Coinbase to delist any assets or discontinue its staking services. However, the company has taken similar actions in the past when facing regulatory concerns. For instance, it halted XRP trading due to the SEC's case against Ripple and removed Algorand from its staking options.

Interestingly, Cathie Wood's ARK Invest purchased around $21 million worth of Coinbase stock during the recent sell-off following the announcement of the SEC lawsuit. Meanwhile, Cardano developer Input Output has disputed its inclusion in the SEC's case, claiming that ADA is not a security as alleged by the SEC.