SEC Told Coinbase to Stop Trading in All Cryptos Except Bitcoin Before Suing - "we believe every asset other than bitcoin is a security"

“They came back to us, and they said . . . we believe every asset other than bitcoin is a security,” Armstrong said according to the FT. “And, we said, well how are you coming to that conclusion, because that’s not our interpretation of the law. And they said, we’re not going to explain it to you, you need to delist every asset other than bitcoin.”