Coinbase: The SEC is launching a "devastating lawsuit" to destroy the cryptocurrency industry

Golden Finance reported that Coinbase said in a 36-page closing statement filed on Friday that cryptocurrency companies are caught in a dilemma. The SEC requires companies to comply with regulations, while launching devastating lawsuits against companies that fail to comply and refusing to make rules, Coinbase said. In its closing statement, Coinbase said: This pattern of behavior is to intentionally destroy an industry by asking for impossible things and suing companies that fail to meet the goals. In the process of promoting rule-making, Coinbase advocated that the appeals court should order the U.S. Securities and Exchange Commission (SEC) to start writing rules for cryptocurrencies.