After many positive reports, we have one slightly negative one here. Tensions in the crypto industry are rising again after Coinbase released details of an interview with the SEC, which decided to refuse to publish the necessary guidelines and even decided to sue the crypto exchange for its new Lend program. Historically, this is the first time that a crypto company and its chief attorney have issued a publication describing their feelings of dishonest behavior by the US Securities and Exchange Commission, the whole “conflict” beginning with the SEC’s final statement about the long-running Lend program that the company wanted. Coinbase to run in a few weeks.
Coinbase wanted to be informed or asked for clarification from the SEC as well as guidance on the details of the classification of such a financial product. As a result, however, the SEC chose not to provide any information, which, in addition to the chief legal officer, offended, of course, CEO Brian Armstrong himself, who decided to share this extensive statement on his Twitter. We are certainly not alone if saying that we believe and hope that thanks to Coinbase, the SEC will decide to change its approach and, above all, that it will shed some light on the case.