Crackdown on Interest-Generating Crypto Bigger Than Coinbase

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By Dean Seal (September 24, 2021, 8:47 p.m. EDT) – Coinbase’s cancellation of a planned cryptocurrency lending program for litigation threatened by the United States Securities and Exchange Commission is just the The most recent and landmark episode in a broader regulatory crackdown on earning interests in crypto products.

America’s largest cryptocurrency exchange quietly canceled its proposed loan program about two weeks after Coinbase executives claimed in online posts that the federal securities regulator had expressed concerns about the program – which allegedly allowed customers to lend their US dollar-indexed cryptocurrency holdings. in exchange for a 4% interest – involving securities laws.

The SEC sent a notice stating that it intended to …

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