问题的核心是Coinbase的一款名为Lend的产品，该公司将其作为传统储蓄账户的高收益替代品进行营销。该产品尚未推出，但Coinbase在6月份鼓励客户进行预注册。After Coinbase was warned by SEC about its plans to launch cryptocurrency "lending" products, Brian Armstrong, the company's chief executive, accused SEC of acting "too rudely".
Armstrong is on Twitter.It said that if SEC tried to shut down its new loan products, it would create an unfair market. The product will allow consumers to earn interest from the cryptocurrency they hold. Earlier, SEC sent a "Wells notice" to Coinbase warning that SEC would take enforcement action if Coinbase continued to promote cryptocurrency lending products.
"Regulation through litigation should be the last resort of SEC, not the first one," Armstrong wrote on Twitter.
At the heart of the problem is a product from Coinbase called Lend, which the company markets as a high-yielding alternative to traditional savings accounts. The product has not yet been launched, but Coinbase encouraged customers to pre-register in June.
SEC argues that DeFi lending should be regulated like securities. In recent months, a number of state agencies in the United States have also issued warnings about interest-bearing programs on accounts of BlockFi, another cryptocurrency platform.
Coinbase said it had been "actively cooperating" with SEC's review of Lend's business for six months and was surprised by possible enforcement actions.
SEC told us that it wanted to sue us over Lend. We don't know why, "Paul Grewal, chief legal officer of Coinbase, wrote in a blog post. He added that SEC believes that Lend "involves a security, but would not say why or how they reached this conclusion."
Armstrong expressed the same view. Their response is that this lending function is a security. Well, it seems strange, how can lending be a security? "he wrote on Twitter.
Coinbase said it did not plan to launch Lend until at least October because of SEC's actions.
Affected by the SEC warning, the stock fell more than 3 per cent at the start of the day.
