Blockchain CEO confident in response to SEC suit.

Blockchain CEO Brian Armstrong has publicly responded to a lawsuit filed by the United States Securities and Exchange Commission (SEC) against the company. Armstrong stated in a tweet that the team is confident in their facts and the law and welcomes the opportunity to gain clarity around crypto regulations in court. The SEC alleges that blockchain has been operating a securities exchange, broker-dealership, and clearing house without registering with the commission. The lawsuit argues that 13 different cryptocurrencies sold by blockchain fit the definition of securities, including Cardano (ADA), Solana (SOL), Polygon (MATIC), Filecoin (FIL), and others. Armstrong claimed the lawsuit against blockchain is different from others as it is exclusively focused on what is or is not a security, and the team is confident in their facts and the law. Armstrong expressed hope that court proceedings will allow crypto exchanges to understand how to comply with securities laws. This is the latest development in a series of legal filings and public statements between the exchange and the SEC since March.