Bitcoin Magazine PRO is a reader-supported publication. To receive new posts and support our work, consider becoming a free or paid subscriber. SEC To Coinbase: All But Bitcoin Are Securities In a newly released Financial Times article, it was revealed that the U.S. Securities and Exchange Commission (SEC) had advised Coinbase to halt trading in all cryptocurrencies except bitcoin, a clear indicator of the SEC's intent to extend regulatory authority over the broader crypto market. This suggestion was made prior to the agency’s legal action against Coinbase for failing to register as a broker. Coinbase CEO Brian Armstrong stated, "They said … we believe every asset other than bitcoin is a security,” and that compliance with this directive would have risked positioning most American crypto businesses outside the law unless they registered with the SEC. While Armstrong’s stance to protect not only his own business interests but also the legal precedent in the crypto industry is certainly an admirable one, it looks as if the legal battle between the SEC and crypto businesses/service providers is far from over.