In March, the crypto exchange said the SEC sent it a Wells notice – a formal announcement the regulator’s staff plans to propose an enforcement action

Coinbase Global has restated its perspective to the U.S. Securities and Exchange Commission (SEC) that it has not breached any securities laws in its official reply to a legal warning received from the regulator, the company stated on Thursday.

Coinbase Chief Executive Officer Brian Armstrong and Chief Legal Officer Paul Grewal stated the crypto exchange would like to list securities in the future but would not feel comfortable given the regulatory uncertainty, in a reaction to the Securities and Exchange Commission made public on Thursday.

Coinbase does not list securities, Grewal stated.

In March, the crypto exchange said the Securities and Exchange Commission sent it a Wells notice – a formal announcement the regulator’s staff plans to propose an enforcement action.

The incident is among the most recent indications of rising tensions between the crypto sector and the Securities and Exchange Commission, which has taken the stance that several digital assets are securities and are operating unlawfully outside of its purview. The Securities and Exchange Commission has growingly sought to tackle what it thinks to be a lack of abidance among crypto company intermediaries.

No law or regulation authorizes the Securities and Exchange Commission to charge Coinbase for the supposed breaches in the Wells notice, Grewal stated, noting what he sees as a change in the Securities and Exchange Commission Chair’s opinions. We are on the verge of a fight that does not need to happen, and frankly should not happen.

As Securities and Exchange Commission chair, Gensler has contended the “Wild West” of crypto should be more actively managed and that companies that deal with digital asset securities should register with the agency.

Coinbase has appealed to a federal court to compel the Securities and Exchange Commission to clarify whether it will make new regulations for digital assets.

The company’s deputy general counsel, Katherine Minarik, stated in an interview Coinbase will aim at growing outside the U.S. as required.

We are going to leave no stone unturned to push for regulatory clarity here, she stated.