ICYMI: Coinbase ditched its crypto lending program plans after it received a lawsuit threat from the SEC.
Coinbase Global COIN, +0.82% dropped its plan to launch a program that would have allowed users to earn interest by depositing cryptocurrency, after the Nasdaq-listed crypto exchange said earlier it received a lawsuit threat from the Securities and Exchange Commission.
“We have also discontinued the wait list for this program as we turn our work to what comes next,” the company wrote. iframe.twitter-tweet { width: 100% !important; } Several crypto companies have been offering products that allow users to earn interest by storing their cryptocurrency, while leaders at these companies hold different views on whether such products should be considered as securities.
“We are disappointed these actions have been filed and wholeheartedly disagree with the allegations being made that Celsius has not complied with the law,” a Celsius spokesperson told MarketWatch in an email.
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