SEC threatens to sue Coinbase

Daily Crypto Signals “They refuse to tell us why they think it’s a security.

The United States Securities and Exchange Commission (SEC) has reportedly threatened to sue Coinbase over a crypto yield program it deems as a security.

Todays news on SEC threatens to sue Coinbase

Armstrong pointed out that there are other crypto firms on the market who currently provide similar lending services to their customers, and called for the SEC to provide regulatory clarity on the topic. The SEC’s actions, if Armstrong has reported them accurately, appear to be bad news for competitors BlockFi and Celsius which already offer crypto yield products. BlockFi is facing investigations in a number of states over its high-interest products.

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