SEC Sue Coinbase Lend Yield Product

Bitcoin exchange Coinbase’s new Lend program is facing strong opposition from the U.S. Securities and Exchange Commission (SEC), which called the product a securities offering. Coinbase Chief Legal Officer Paul Grewal published a blog post today saying that the SEC will sue the company if it launches Lend, claiming the regulatory agency lacks clarity. The situation was also explained by Coinbase CEO Brian Armstrong in a lengthy Twitter thread, highlighting the company’s policies and the back-and-forth communication with the SEC.

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