"SEC Simply Has Not Been Fair", Coinbase CEO Responds To Wells Notice

Coinbase CEO Brian Armstrong Responds To Wells Notice on Twitter

Coinbase Global, $COIN, has said it got a Wells Notice from SEC Staff in their Item 7.01 Regulation FD Disclosure, and SEC has threatened to sue Coinbase.

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Brian Armstrong, Co-founder & CEO at Coinbase has responded to the Wells notice which typically precedes an enforcement action.

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He reminds that the SEC themselves reviewed their business in detail two years ago before approving Coinbase to go public.

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Defending Coinbase, he says Coinbase runs a rigorous asset review process and has rejected more than 90% of assets.

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"While we understand that this is all part of the journey to reforming our financial system, we are right on the law, confident in the facts, and welcome the opportunity for Coinbase to get before a court."

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Coinbase also looks forward to the open, unbiased legal process to prove that the SEC simply has been unfair and unreasonable and non-serious about digital assets.

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Coinbase will continue to update financial system, create economic freedom and expand globally with crypto regulations coming in.

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