Hello everyone I hope you are doing fine these days. I want to start your new week with negative news It seems like SEC and coinbase drama is again taking place and most people are tired of this. We are going to discuss the update on this. If I tell you whole the statement in one line then SEC said that "We believe every asset is security other than the bitcoin" SEC said to delist all the tokens other than bitcoin. This is a big statement.

Last time, SEC sued both Binance and Coinbase. XRP is also not behind and just a few days ago XRP won the case which was positive news for the whole crypto industry but it did not have a huge impact because of manipulation. Currently, we are seeing mixed news and the sentiments are not bullish and not bearish. Bitcoin is also moving between 29k to 31k and it looks like a sideways movement. And also altcoins are not showing positive movements. Who knows which news will hit the market hardly so it is important to keep an eye on updates so that you can take a correct move.

What Can Coinbase Do Now?

We have shared posts on this topic 2-3 times in the past and Coinbase clearly said that if SEC will stick to this policy, we are going to move the Coinbase services from the US and choose another country. Coinbase is continuously in touch with SEC and this is happening with coinbase which means it is going to happen with other exchanges as well because other exchanges are also providing service in the United States.

It is not possible for Coinbase to delist all the altcoins including major currencies like Ethereum, litecoin ETC. But there is one more scenario that can take place. Coinbase can launch a separate platform that will only work in the US with bitcoin trading only. If SEC will force coinbase to delist other tokens then SEC will leave the country or else they can run a separate exchange. However, this is just speculation based on previous statements and analysis.

This news is also not good for Binance because Binance is also a big exchange in the cryptocurrency field. It will be not good for the SEC and the government if big exchanges stop the services from the country. It is also harmful to US crypto users. And this is not good news for the whole crypto community. Anyway, bitcoin is stable at 29k and it seems like there is no bad effect of this news. If you know the end then you should not need to worry about and dheet holders know this.

What do you think regarding this update let me know in the comment section. And also reblog & share this post on social media platforms. Have a good day ahead.

Thank you, everyone.

Lucky Ali

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		Hi I am lucky ali from gujarat, india. I am a crypto enthusiast, blogger, and SEO developer. I am always interested to learn new things and getting new experiences. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring, Thank you hive family ♥

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