In the freshly brewing battle between Coinbase and the SEC, the securities regulators seem to be winning as of now. Last Friday, September 17, crypto exchange Coinbase (NASDAQ: COIN) released an update stating that it will roll back its plans to launch the USDC APY program.
This happens as the U.S. SEC threatened a lawsuit if coinbase doesn’t follow the seucities laws in the stablecoin lending. In an update to its launch post, Coinbase noted:
As we continue our work to seek regulatory clarity for the crypto industry as a whole, we’ve made the difficult decision not to launch the USDC APY program announced below. We have also discontinued the waitlist for this program as we turn our work to what comes next.
Coinbase had already received interest from thousands of customers across America to sign-up for the program. However, Coinbase noted that it will continue with its efforts in bringing innovative and trusted programs to its customers.
SEC has A Problem With Lending and Staking
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Źródło: https://coingape.com/coinbase-rolls-back-usdc-lending-plans-fearing-sec-lawsuit/
