Representatives of the cryptocurrency exchange said that the Commission is threatening them with legal proceedings due to preparations for the launch of the landing program.
According to Coinbase, the exchange has been in negotiations with the SEC regarding the launch of this product for six months. However, the regulator still issued a warning about plans to sue the company or its employees.
The “Lend” function would allow users to receive 4% annual profits backed by the USDC stablecoin.
Coinbase CEO Brian Armstrong wrote on Twitter that the exchange complied with all regulatory requirements. According to him, the SEC does not give a clear explanation as to the reasons for the lawsuit and does not respond to requests from the exchange.
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According to www.coindesk.com
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