On Thursday, in its formal response to a Wells Notice received from the Securities and Exchange Commission (SEC), Coinbase Global Inc. firmly stated that it has not violated any securities laws. The California-based crypto exchange was recently issued an official notification by the SEC that it is being investigated for its Earn product, wallet service, and exchange operations.

During the course of the 14-minute video, CEO Brian Armstrong emphasized that the company was ready to defend their position in court, however, they are open to a “true dialogue to a workable path forward” for the larger crypto sector.

Chief Legal Officer Paul Grewal provided a list of a few pointers to demonstrate the company’s compliance with the securities law. These pointers highlight that the company does not list securities,  follows a “robust process” as outlined by the SEC, and that it rejects over 90% of the crypto assets during an internal review prior to getting listed.

(By Pratik Bhuyan)