The SEC asked Coinbase to halt trading in everything except bitcoin according to CEO

According to reports, the SEC had recommended that Coinbase cease trading in all digital assets other than Bitcoin. This recommendation came prior to the SEC initiating legal action against the Nasdaq-listed company for allegedly failing to register as a broker.
 

Coinbase’s CEO, Brian Armstrong, conveyed that the SEC’s stance left the company with no choice but to engage in a legal battle. The SEC had charged Coinbase on June 6, alleging that the exchange was operating as a broker, an exchange, and a clearinghouse for unregistered securities, specifically pointing to 13 different cryptocurrencies, excluding Bitcoin.
 

The SEC’s request was not a formal order but rather a recommendation during the course of an investigation. An SEC spokesperson clarified that while the enforcement division did not make formal requests for companies to delist crypto assets, staff may share their views on what conduct could raise questions under the securities laws.