The new program would allow users to lend the coins to each other in exchange for a 4% interest rate—a substantial increase over the rates banks generally offer in traditional savings accounts. The SEC declined to elaborate on why it considers Lend a security except to point out it was leaning on “decades-old Supreme Court cases.”
Estimated reading time: 0 minutes, 27 seconds
SEC Prepared to Step In If Coinbase Goes Through with Lend
Most Read
-
-
Apr 27 2019
-
Written by FinTech News Brief Staff
-
-
-
Jan 16 2020
-
Written by FinTech News Brief Staff
-
-
-
Jan 09 2019
-
Written by FinTech News Brief Staff
-
-
-
Sep 24 2020
-
Written by FinTech News Brief Staff
-