Philip Martin, Coinbase’s Security Director, revealed that the exchange has proposed a comprehensive plan to the SEC. The plan aims to educate the regulator on effective internet security practices. Martin, who possesses extensive experience in social media security protocols, expressed his patriotism and willingness to assist his country. He urged the SEC not to hesitate and seek help.
hey @GaryGensler and @SECGov, serious offer: as a crypto exchange we’ve had a lot of experience with security protocols around social media, and as a veteran and patriot I love to help my country. If you’d like any suggestions feel free to reach out. https://t.co/w3z2yU6FZw
— Philip Martin (@SecurityGuyPhil) January 10, 2024
Paul Grewal, Coinbase’s Senior Legal Counsel, reiterated that the entire team at Coinbase stands ready to support the regulator. This collaboration would contribute to the establishment of fair and efficient markets for all Americans.
The entire @coinbase team offers its help. We are committed to doing our part to ensure fair, orderly and efficient markets for all Americans. https://t.co/eYI8mQtmCT
— paulgrewal.eth (@iampaulgrewal) January 10, 2024
Earlier this week, on January 9, the SEC’s official Twitter account posted a tweet announcing the authorization of spot Bitcoin ETFs for all exchanges trading securities. However, this tweet was swiftly deleted, with SEC Chairman Gary Gensler revealing that the Commission’s account had been hacked. The SEC has yet to approve the listing and trading of Bitcoin spot exchange products.
This offer from Coinbase comes amidst an ongoing legal battle between the exchange and the SEC, which sued Coinbase last year, accusing it of violating securities laws and failing to register.