By John Reed Stark (September 21, 2021, 12:56 PM EDT) — Coinbase dodged a bullet when it stopped its Lend program useless in its tracks, giving up its struggle in opposition to the U.S. Securities and Change Fee.
The spat began when high-flying media darling Coinbase — a preferred, and now publicly traded, crypto buying and selling platform — started advertising a cryptocurrency product known as Lend. The Lend program purportedly deliberate to permit some Coinbase prospects to earn curiosity on sure belongings on Coinbase, beginning with 4% yearly on USD Coin, or USDC.
U.S. regulators have raised considerations about these sorts of applications, together with that the merchandise are securities that require state and federal registration….
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