Coinbase Gets Wells Notice From the SEC on Lend Product – Bloomberg

Coinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.

The U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move, in a blog post, adding it plans to delay the launch at least until October.

Source: Coinbase Gets Wells Notice From the SEC on Lend Product – Bloomberg