The exchange hinted at difficulties in regulatory clarity across the crypto industry in its decision to not bring its Lend product to the market.
U.S.-based cryptocurrency exchange Coinbase has announced it will not be pursuing its Lend crypto lending program.In a Sept. 17 update to a blog announcing the program in June, Coinbase hinted at difficulties in regulatory clarity across the crypto industry in its decision to not bring the crypto lending product to the market. According to the exchange, “hundreds of thousands of customers from across the country” had already signed up for Lend, a program which aimed at offering 4% annual yield returns on deposits of USD Coin (USDC). The announcement comes less than two weeks after the Securities and Exchange Commission, or SEC, threatened Coinbase with legal action if the exchange launched Lend, which it has deemed a security under its purview. Coinbase chief legal officer Paul
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