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Coinbase Withdraws Crypto Lending Project To Make Concessions To Regulation
Summary: According to the official blog update, the cryptocurrency exchange Coinbase canceled its plan to launch its crypto lending project -- Coinbase Lend. The company stated it "made a difficult decision" to seek regulatory clarity and also stopped the waiting list for the program, which has hundreds of thousands of customers from all over the country ...
According to the official blog update, the cryptocurrency exchange Coinbase canceled its plan to launch its crypto lending project -- Coinbase Lend.
The company stated it "made a difficult decision" to seek regulatory clarity and also stopped the waiting list for the program, which has hundreds of thousands of customers from all over the country registered.
Market data shows that Coinbase (COIN.O) shares plummeted, falling 4.5%.
Coinbase originally planned to launch the lending product in the next few weeks, but the company said it received a notice from the Securities and Exchange Commission (SEC) warning it would file a lawsuit if the plan continues.
By Mary Liu
Tags: Coinbase,Regulation,SEC
Link: Coinbase Withdraws Crypto Lending Project To Make Concessions To Regulation [Copy]
