COINbase Share prices plunged on Wednesday , Previously, the largest cryptocurrency exchange in the United States disclosed , The federal securities regulator threatened , If it promotes planned lending products , To be sued .
The stock ($COIN) Fell on the NASDAQ Exchange 4.1% to 256 dollar , On Tuesday, the cryptocurrency market generally fell by more than 4% .
Coinbase Chief Legal Officer Paul Grewal In a blog post late Tuesday , Securities and Exchange Commission (SEC) The company has been issued with the name Wells Notified regulatory warning , Threatened that if the exchange launched the planned “ The loan ” plan , The exchange will be sued as a stable currency linked to the US dollar USDC Our deposits provide 4% Annual rate of return .
Although regulators claim that encrypted loans are an unregulated security , but Grewal Write in blog post ,Lend Plans are not investment contracts or notes , Not eligible for Securities .
He wrote ：“ The customer won't ‘ investment ’ The plan , But put them in Coinbase Related to existing relationships held on the platform USDC Lend .” “ although Lend Customers will receive interest from their participation in the program , But no matter Coinbase How about your broader business activities , We are all obliged to pay this interest . what's more , It is safe to participate in the client's principal , We are obliged to repay them on demand USDC.”
The SEC threat has caused anger in the crypto community , An executive was in... Early Wednesday Twitter Argue on , Regulatory body “ Is directly undermining its mission to promote these markets ”.
Stock investors who are selling now don't seem to be waiting for a quick solution .
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