Crypto lending products have come under scrutiny from security regulators in some jurisdictions across the United States. While these enforcement actions have come from agencies at the state level, there have been indications that the Securities and Exchange Commission (SEC) was also set to go on the offensive.
Thus, it was perhaps unsurprising to see the SEC ask Coinbase (NASDAQ:COIN) to halt its proposed crypto lending program titled “Lend.” Coinbase CEO Brian Armstrong took to Twitter (NYSE:TWTR) to express dissatisfaction with the SEC’s behavior, stating that the Commission was not forthcoming with useful guidance despite public assurances to the contrary.
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