Coinbase threatened with prosecution by the U.S Securities and Exchange Commission

The SEC has threatened Coinbase with legal action if its interest-bearing cryptocurrency loan scheme comes to fruition.

Bad news for Coinbase. The SEC, the U.S Securities and Exchange Commission, has indicated that it does not want the cryptocurrency exchange platform to embark on loans. Coinbase has indicated that the SEC will sue it if its interest- bearing cryptocurrency lending project sees the light of day. She was surprised at the threat from the SEC, which reportedly provided no explanation. The net result of all of this is that the platform won't launch Lend until at least October.

" Coinbase continues to welcome the additional regulatory clarity; the mystery and ambiguity only serves to unnecessarily stifle new products that customers want and that Coinbase and others can safely deliver," the company said. Coinbase stock made a thunderous debut on Wall Street last April. For its very first listing, Coinbase, which trades under the symbol COIN on the Nasdaq, was listed at $ 381, 52% above the benchmark price of $ 250.

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