Coinbase Gets Wells Notice From the SEC on Its Lend Product

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Coinbase Gets Wells Notice From the SEC on Its Lend Product

Bloomberg2021-09-08

Exchange said it’s been ‘proactively engaging’ with SEC SEC asked for names of everyone on waitlist, Coinbase said Coinbase Global Inc. was warned by the Securities and Exchange Commission against ...

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Comment（14）

huilly
·2021-09-08
Wow..
Reply
1
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Victorhc88
·2021-09-08
Like pls
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2
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TeslaLegend
·2021-09-08
Please like and comment!
Reply
6
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- Msx01:
  Ok
  2021-09-08
  Reply
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- Smelly Tiger:
  ?
  2021-09-08
  Reply
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huathuatking
·2021-09-08
Oh dear
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4
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- TeslaLegend:
  Nice
  2021-09-08
  Reply
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Aaronykc
·2021-09-08
F*%k the sec [Weak]
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6
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HawTK
·2021-09-08
Upupup
Reply
5
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Huntsilencer
·2021-09-08
Up
Reply
3
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- STT1987:
  Ggggg
  2021-09-08
  Reply
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sockbuster
·2021-09-08
Like
Reply
9
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- erichosk:
  done
  2021-09-08
  Reply
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fann
·2021-09-08
h
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5
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- Huntsilencer:
  up
  2021-09-08
  Reply
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Diamondhand6
·2021-09-08
Like
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7
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- huilly:
  ok
  2021-09-08
  Reply
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- huathuatking:
  Ok
  2021-09-08
  Reply
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Ahyie
·2021-09-08
Ok
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6
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- Diamondhand6:
  Like
  2021-09-08
  Reply
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- 棒棒妞:
  bo
  2021-09-08
  Reply
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Phoenix5104
·2021-09-08
Haha ok
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6
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- Cindypoonyw:
  Like
  2021-09-08
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Sysyong
·2021-09-08
Ok
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6
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- Phoenix5104:
  ok too
  2021-09-08
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javiery
·2021-09-08
Gd
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2
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- Sysyong:
  Ok
  2021-09-08
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Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.\n“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”\nThe agency has said it’s assessing Lend through Supreme Court cases called Howey from 1946 and Reves from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.\n“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.\n\nThe SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.\nIn recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.\nNew SEC Chair Gary Gensler, who’s repeatedly rung alarm bells over crypto exchanges during his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren that regulators need more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.\nThe SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.\n“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":880789824,"gmtCreate":1631082161268,"gmtModify":1676530462481,"author":{"id":"3584235357352543","authorId":"3584235357352543","name":"huilly","avatar":"https://static.itradeup.com/news/b7a1fde5f6063db10091e669c2cc21f3","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3584235357352543","authorIdStr":"3584235357352543"},"htmlText":"Wow..&nbsp;","listText":"Wow..&nbsp;","text":"Wow..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880789824","repostId":2165366198,"repostType":4,"repost":{"id":"2165366198","pubTimestamp":1631079578,"share":"https://ttm.financial/m/news/2165366198?lang=&edition=fundamental","pubTime":"2021-09-08 13:39","market":"us","language":"en","title":"Coinbase Gets Wells Notice From the SEC on Its Lend Product","url":"https://stock-news.laohu8.com/highlight/detail?id=2165366198","media":"Bloomberg","summary":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist,","content":"<ul>\n <li>Exchange said it’s been ‘proactively engaging’ with SEC</li>\n <li>SEC asked for names of everyone on waitlist, Coinbase said</li>\n</ul>\n<p>Coinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.</p>\n<p>The U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.</p>\n<p>“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”</p>\n<p>The agency has said it’s assessing Lend through Supreme Court cases called&nbsp;Howey&nbsp;from 1946 and&nbsp;Reves&nbsp;from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.</p>\n<p>“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.</p>\n<p><img src=\"https://static.tigerbbs.com/8b49614d38c2cde552baee68e49d1265\" tg-width=\"746\" tg-height=\"471\" width=\"100%\" height=\"auto\"></p>\n<p>The SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.</p>\n<p>In recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.</p>\n<p>New SEC Chair Gary Gensler, who’s repeatedly&nbsp;rung alarm bells&nbsp;over crypto exchanges during&nbsp;his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren&nbsp;that regulators need&nbsp;more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.</p>\n<p>The SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.</p>\n<p>“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Gets Wells Notice From the SEC on Its Lend Product</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase Gets Wells Notice From the SEC on Its Lend Product\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 13:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165366198","content_text":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.\nThe U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.\n“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”\nThe agency has said it’s assessing Lend through Supreme Court cases called Howey from 1946 and Reves from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.\n“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.\n\nThe SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.\nIn recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.\nNew SEC Chair Gary Gensler, who’s repeatedly rung alarm bells over crypto exchanges during his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren that regulators need more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.\nThe SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.\n“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":880714274,"gmtCreate":1631081686798,"gmtModify":1676530462408,"author":{"id":"3582248650466523","authorId":"3582248650466523","name":"Victorhc88","avatar":"https://static.tigerbbs.com/d72a1d9498132424b1eddb4db3c77265","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3582248650466523","authorIdStr":"3582248650466523"},"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880714274","repostId":2165366198,"repostType":4,"repost":{"id":"2165366198","pubTimestamp":1631079578,"share":"https://ttm.financial/m/news/2165366198?lang=&edition=fundamental","pubTime":"2021-09-08 13:39","market":"us","language":"en","title":"Coinbase Gets Wells Notice From the SEC on Its Lend Product","url":"https://stock-news.laohu8.com/highlight/detail?id=2165366198","media":"Bloomberg","summary":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist,","content":"<ul>\n <li>Exchange said it’s been ‘proactively engaging’ with SEC</li>\n <li>SEC asked for names of everyone on waitlist, Coinbase said</li>\n</ul>\n<p>Coinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.</p>\n<p>The U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.</p>\n<p>“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”</p>\n<p>The agency has said it’s assessing Lend through Supreme Court cases called&nbsp;Howey&nbsp;from 1946 and&nbsp;Reves&nbsp;from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.</p>\n<p>“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.</p>\n<p><img src=\"https://static.tigerbbs.com/8b49614d38c2cde552baee68e49d1265\" tg-width=\"746\" tg-height=\"471\" width=\"100%\" height=\"auto\"></p>\n<p>The SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.</p>\n<p>In recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.</p>\n<p>New SEC Chair Gary Gensler, who’s repeatedly&nbsp;rung alarm bells&nbsp;over crypto exchanges during&nbsp;his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren&nbsp;that regulators need&nbsp;more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.</p>\n<p>The SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.</p>\n<p>“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Gets Wells Notice From the SEC on Its Lend Product</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase Gets Wells Notice From the SEC on Its Lend Product\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 13:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165366198","content_text":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.\nThe U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.\n“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”\nThe agency has said it’s assessing Lend through Supreme Court cases called Howey from 1946 and Reves from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.\n“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.\n\nThe SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.\nIn recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.\nNew SEC Chair Gary Gensler, who’s repeatedly rung alarm bells over crypto exchanges during his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren that regulators need more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.\nThe SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.\n“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":880713839,"gmtCreate":1631080920221,"gmtModify":1676530462264,"author":{"id":"3572489627147183","authorId":"3572489627147183","name":"TeslaLegend","avatar":"https://static.tigerbbs.com/180ad6f06095bcbf2b6594d26c494752","vip":1,"hat":"https://static.tigerbbs.com/f84859c65fc2d7681e28f6b8e9b0535a","crmLevel":4,"crmLevelSwitch":1,"idStr":"3572489627147183","authorIdStr":"3572489627147183"},"htmlText":"Please like and comment!","listText":"Please like and comment!","text":"Please like and comment!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/880713839","repostId":2165366198,"repostType":4,"repost":{"id":"2165366198","pubTimestamp":1631079578,"share":"https://ttm.financial/m/news/2165366198?lang=&edition=fundamental","pubTime":"2021-09-08 13:39","market":"us","language":"en","title":"Coinbase Gets Wells Notice From the SEC on Its Lend Product","url":"https://stock-news.laohu8.com/highlight/detail?id=2165366198","media":"Bloomberg","summary":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist,","content":"<ul>\n <li>Exchange said it’s been ‘proactively engaging’ with SEC</li>\n <li>SEC asked for names of everyone on waitlist, Coinbase said</li>\n</ul>\n<p>Coinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.</p>\n<p>The U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.</p>\n<p>“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”</p>\n<p>The agency has said it’s assessing Lend through Supreme Court cases called&nbsp;Howey&nbsp;from 1946 and&nbsp;Reves&nbsp;from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.</p>\n<p>“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.</p>\n<p><img src=\"https://static.tigerbbs.com/8b49614d38c2cde552baee68e49d1265\" tg-width=\"746\" tg-height=\"471\" width=\"100%\" height=\"auto\"></p>\n<p>The SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.</p>\n<p>In recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.</p>\n<p>New SEC Chair Gary Gensler, who’s repeatedly&nbsp;rung alarm bells&nbsp;over crypto exchanges during&nbsp;his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren&nbsp;that regulators need&nbsp;more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.</p>\n<p>The SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.</p>\n<p>“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Gets Wells Notice From the SEC on Its Lend Product</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase Gets Wells Notice From the SEC on Its Lend Product\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 13:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165366198","content_text":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.\nThe U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.\n“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”\nThe agency has said it’s assessing Lend through Supreme Court cases called Howey from 1946 and Reves from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.\n“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.\n\nThe SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.\nIn recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.\nNew SEC Chair Gary Gensler, who’s repeatedly rung alarm bells over crypto exchanges during his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren that regulators need more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.\nThe SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.\n“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5790583,"gmtCreate":1631081059280,"gmtModify":1663233549529,"authorId":3569922361666902,"author":{"id":3569922361666902,"idStr":"3569922361666902","authorId":3569922361666902,"name":"Msx01","avatar":"https://static.tigerbbs.com/c57e95b88f5085ec8c97e84ebccac4b9","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880713839,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"},{"id":5790606,"gmtCreate":1631081405208,"gmtModify":1663233548625,"authorId":3565093231884966,"author":{"id":3565093231884966,"idStr":"3565093231884966","authorId":3565093231884966,"name":"Smelly Tiger","avatar":"https://static.tigerbbs.com/eb090d0ef806d1ab6ea260cffcde7569","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-3","templateUuid":"1026c425416b44e0aac28c11a0848493","name":" Tiger Idol","description":"Join the tiger community for 1500 days","bigImgUrl":"https://static.tigerbbs.com/8b40ae7da5bf081a1c84df14bf9e6367","smallImgUrl":"https://static.tigerbbs.com/f160eceddd7c284a8e1136557615cfad","grayImgUrl":"https://static.tigerbbs.com/11792805c468334a9b31c39f95a41c6a","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.11.15","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880713839,"type":1,"supId":0,"prevId":0,"content":"?","text":"?","html":"?"}],"langContent":"EN"},{"id":880710794,"gmtCreate":1631080790318,"gmtModify":1676530462232,"author":{"id":"3572923710314905","authorId":"3572923710314905","name":"huathuatking","avatar":"https://static.tigerbbs.com/2f213995240eaab2cd1ce03e0a2cde28","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3572923710314905","authorIdStr":"3572923710314905"},"htmlText":"Oh dear","listText":"Oh dear","text":"Oh dear","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/880710794","repostId":2165366198,"repostType":4,"repost":{"id":"2165366198","pubTimestamp":1631079578,"share":"https://ttm.financial/m/news/2165366198?lang=&edition=fundamental","pubTime":"2021-09-08 13:39","market":"us","language":"en","title":"Coinbase Gets Wells Notice From the SEC on Its Lend Product","url":"https://stock-news.laohu8.com/highlight/detail?id=2165366198","media":"Bloomberg","summary":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist,","content":"<ul>\n <li>Exchange said it’s been ‘proactively engaging’ with SEC</li>\n <li>SEC asked for names of everyone on waitlist, Coinbase said</li>\n</ul>\n<p>Coinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.</p>\n<p>The U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.</p>\n<p>“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”</p>\n<p>The agency has said it’s assessing Lend through Supreme Court cases called&nbsp;Howey&nbsp;from 1946 and&nbsp;Reves&nbsp;from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.</p>\n<p>“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.</p>\n<p><img src=\"https://static.tigerbbs.com/8b49614d38c2cde552baee68e49d1265\" tg-width=\"746\" tg-height=\"471\" width=\"100%\" height=\"auto\"></p>\n<p>The SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.</p>\n<p>In recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.</p>\n<p>New SEC Chair Gary Gensler, who’s repeatedly&nbsp;rung alarm bells&nbsp;over crypto exchanges during&nbsp;his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren&nbsp;that regulators need&nbsp;more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.</p>\n<p>The SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.</p>\n<p>“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Gets Wells Notice From the SEC on Its Lend Product</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase Gets Wells Notice From the SEC on Its Lend Product\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 13:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165366198","content_text":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.\nThe U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.\n“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”\nThe agency has said it’s assessing Lend through Supreme Court cases called Howey from 1946 and Reves from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.\n“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.\n\nThe SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.\nIn recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.\nNew SEC Chair Gary Gensler, who’s repeatedly rung alarm bells over crypto exchanges during his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren that regulators need more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.\nThe SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.\n“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5790571,"gmtCreate":1631080926896,"gmtModify":1663233549643,"authorId":3572489627147183,"author":{"id":3572489627147183,"idStr":"3572489627147183","authorId":3572489627147183,"name":"TeslaLegend","avatar":"https://static.tigerbbs.com/180ad6f06095bcbf2b6594d26c494752","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.09.28","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":4,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880710794,"type":1,"supId":0,"prevId":0,"content":"Nice","text":"Nice","html":"Nice"}],"langContent":"EN"},{"id":880737103,"gmtCreate":1631080604802,"gmtModify":1676530462192,"author":{"id":"3571535693267201","authorId":"3571535693267201","name":"Aaronykc","avatar":"https://static.tigerbbs.com/a6fb0a4f08d4e7b8733e7ebc2445aad5","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":5,"crmLevelSwitch":1,"idStr":"3571535693267201","authorIdStr":"3571535693267201"},"htmlText":"F*%k the sec [Weak]&nbsp;","listText":"F*%k the sec [Weak]&nbsp;","text":"F*%k the sec [Weak]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880737103","repostId":2165366198,"repostType":4,"repost":{"id":"2165366198","pubTimestamp":1631079578,"share":"https://ttm.financial/m/news/2165366198?lang=&edition=fundamental","pubTime":"2021-09-08 13:39","market":"us","language":"en","title":"Coinbase Gets Wells Notice From the SEC on Its Lend Product","url":"https://stock-news.laohu8.com/highlight/detail?id=2165366198","media":"Bloomberg","summary":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist,","content":"<ul>\n <li>Exchange said it’s been ‘proactively engaging’ with SEC</li>\n <li>SEC asked for names of everyone on waitlist, Coinbase said</li>\n</ul>\n<p>Coinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.</p>\n<p>The U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.</p>\n<p>“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”</p>\n<p>The agency has said it’s assessing Lend through Supreme Court cases called&nbsp;Howey&nbsp;from 1946 and&nbsp;Reves&nbsp;from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.</p>\n<p>“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.</p>\n<p><img src=\"https://static.tigerbbs.com/8b49614d38c2cde552baee68e49d1265\" tg-width=\"746\" tg-height=\"471\" width=\"100%\" height=\"auto\"></p>\n<p>The SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.</p>\n<p>In recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.</p>\n<p>New SEC Chair Gary Gensler, who’s repeatedly&nbsp;rung alarm bells&nbsp;over crypto exchanges during&nbsp;his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren&nbsp;that regulators need&nbsp;more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.</p>\n<p>The SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.</p>\n<p>“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Gets Wells Notice From the SEC on Its Lend Product</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase Gets Wells Notice From the SEC on Its Lend Product\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 13:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165366198","content_text":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.\nThe U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.\n“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”\nThe agency has said it’s assessing Lend through Supreme Court cases called Howey from 1946 and Reves from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.\n“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.\n\nThe SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.\nIn recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.\nNew SEC Chair Gary Gensler, who’s repeatedly rung alarm bells over crypto exchanges during his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren that regulators need more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.\nThe SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.\n“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":880734294,"gmtCreate":1631080471618,"gmtModify":1676530462169,"author":{"id":"4087822741232210","authorId":"4087822741232210","name":"HawTK","avatar":"https://static.tigerbbs.com/184dd5a8890335d87b5cc27237101a65","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4087822741232210","authorIdStr":"4087822741232210"},"htmlText":"Upupup&nbsp;","listText":"Upupup&nbsp;","text":"Upupup","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880734294","repostId":2165366198,"repostType":4,"repost":{"id":"2165366198","pubTimestamp":1631079578,"share":"https://ttm.financial/m/news/2165366198?lang=&edition=fundamental","pubTime":"2021-09-08 13:39","market":"us","language":"en","title":"Coinbase Gets Wells Notice From the SEC on Its Lend Product","url":"https://stock-news.laohu8.com/highlight/detail?id=2165366198","media":"Bloomberg","summary":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist,","content":"<ul>\n <li>Exchange said it’s been ‘proactively engaging’ with SEC</li>\n <li>SEC asked for names of everyone on waitlist, Coinbase said</li>\n</ul>\n<p>Coinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.</p>\n<p>The U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.</p>\n<p>“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”</p>\n<p>The agency has said it’s assessing Lend through Supreme Court cases called&nbsp;Howey&nbsp;from 1946 and&nbsp;Reves&nbsp;from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.</p>\n<p>“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.</p>\n<p><img src=\"https://static.tigerbbs.com/8b49614d38c2cde552baee68e49d1265\" tg-width=\"746\" tg-height=\"471\" width=\"100%\" height=\"auto\"></p>\n<p>The SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.</p>\n<p>In recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.</p>\n<p>New SEC Chair Gary Gensler, who’s repeatedly&nbsp;rung alarm bells&nbsp;over crypto exchanges during&nbsp;his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren&nbsp;that regulators need&nbsp;more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.</p>\n<p>The SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.</p>\n<p>“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Gets Wells Notice From the SEC on Its Lend Product</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase Gets Wells Notice From the SEC on Its Lend Product\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 13:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165366198","content_text":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.\nThe U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.\n“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”\nThe agency has said it’s assessing Lend through Supreme Court cases called Howey from 1946 and Reves from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.\n“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.\n\nThe SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.\nIn recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.\nNew SEC Chair Gary Gensler, who’s repeatedly rung alarm bells over crypto exchanges during his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren that regulators need more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.\nThe SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.\n“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":880735451,"gmtCreate":1631080373573,"gmtModify":1676530462153,"author":{"id":"3583029437333652","authorId":"3583029437333652","name":"Huntsilencer","avatar":"https://static.tigerbbs.com/9b69d6b5db7ba7ec92be9ac8c5c5705c","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3583029437333652","authorIdStr":"3583029437333652"},"htmlText":"Up","listText":"Up","text":"Up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/880735451","repostId":2165366198,"repostType":4,"repost":{"id":"2165366198","pubTimestamp":1631079578,"share":"https://ttm.financial/m/news/2165366198?lang=&edition=fundamental","pubTime":"2021-09-08 13:39","market":"us","language":"en","title":"Coinbase Gets Wells Notice From the SEC on Its Lend Product","url":"https://stock-news.laohu8.com/highlight/detail?id=2165366198","media":"Bloomberg","summary":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist,","content":"<ul>\n <li>Exchange said it’s been ‘proactively engaging’ with SEC</li>\n <li>SEC asked for names of everyone on waitlist, Coinbase said</li>\n</ul>\n<p>Coinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.</p>\n<p>The U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.</p>\n<p>“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”</p>\n<p>The agency has said it’s assessing Lend through Supreme Court cases called&nbsp;Howey&nbsp;from 1946 and&nbsp;Reves&nbsp;from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.</p>\n<p>“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.</p>\n<p><img src=\"https://static.tigerbbs.com/8b49614d38c2cde552baee68e49d1265\" tg-width=\"746\" tg-height=\"471\" width=\"100%\" height=\"auto\"></p>\n<p>The SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.</p>\n<p>In recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.</p>\n<p>New SEC Chair Gary Gensler, who’s repeatedly&nbsp;rung alarm bells&nbsp;over crypto exchanges during&nbsp;his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren&nbsp;that regulators need&nbsp;more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.</p>\n<p>The SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.</p>\n<p>“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Gets Wells Notice From the SEC on Its Lend Product</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase Gets Wells Notice From the SEC on Its Lend Product\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 13:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165366198","content_text":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.\nThe U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.\n“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”\nThe agency has said it’s assessing Lend through Supreme Court cases called Howey from 1946 and Reves from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.\n“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.\n\nThe SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.\nIn recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.\nNew SEC Chair Gary Gensler, who’s repeatedly rung alarm bells over crypto exchanges during his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren that regulators need more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.\nThe SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.\n“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5790591,"gmtCreate":1631081160128,"gmtModify":1663233551629,"authorId":3581722422886451,"author":{"id":3581722422886451,"idStr":"3581722422886451","authorId":3581722422886451,"name":"STT1987","avatar":"https://static.tigerbbs.com/b448574f3a0cea8e66038e5d43d5707e","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880735451,"type":1,"supId":0,"prevId":0,"content":"Ggggg","text":"Ggggg","html":"Ggggg"}],"langContent":"EN"},{"id":880736196,"gmtCreate":1631080164815,"gmtModify":1676530462058,"author":{"id":"3580889175020769","authorId":"3580889175020769","name":"sockbuster","avatar":"https://static.tigerbbs.com/902e4c3353374f5915d6b7fecf6ec383","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3580889175020769","authorIdStr":"3580889175020769"},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/880736196","repostId":2165366198,"repostType":4,"repost":{"id":"2165366198","pubTimestamp":1631079578,"share":"https://ttm.financial/m/news/2165366198?lang=&edition=fundamental","pubTime":"2021-09-08 13:39","market":"us","language":"en","title":"Coinbase Gets Wells Notice From the SEC on Its Lend Product","url":"https://stock-news.laohu8.com/highlight/detail?id=2165366198","media":"Bloomberg","summary":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist,","content":"<ul>\n <li>Exchange said it’s been ‘proactively engaging’ with SEC</li>\n <li>SEC asked for names of everyone on waitlist, Coinbase said</li>\n</ul>\n<p>Coinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.</p>\n<p>The U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.</p>\n<p>“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”</p>\n<p>The agency has said it’s assessing Lend through Supreme Court cases called&nbsp;Howey&nbsp;from 1946 and&nbsp;Reves&nbsp;from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.</p>\n<p>“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.</p>\n<p><img src=\"https://static.tigerbbs.com/8b49614d38c2cde552baee68e49d1265\" tg-width=\"746\" tg-height=\"471\" width=\"100%\" height=\"auto\"></p>\n<p>The SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.</p>\n<p>In recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.</p>\n<p>New SEC Chair Gary Gensler, who’s repeatedly&nbsp;rung alarm bells&nbsp;over crypto exchanges during&nbsp;his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren&nbsp;that regulators need&nbsp;more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.</p>\n<p>The SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.</p>\n<p>“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Gets Wells Notice From the SEC on Its Lend Product</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase Gets Wells Notice From the SEC on Its Lend Product\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 13:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165366198","content_text":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.\nThe U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.\n“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”\nThe agency has said it’s assessing Lend through Supreme Court cases called Howey from 1946 and Reves from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.\n“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.\n\nThe SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.\nIn recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.\nNew SEC Chair Gary Gensler, who’s repeatedly rung alarm bells over crypto exchanges during his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren that regulators need more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.\nThe SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.\n“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5790501,"gmtCreate":1631080208600,"gmtModify":1663233549531,"authorId":3575433293784452,"author":{"id":3575433293784452,"idStr":"3575433293784452","authorId":3575433293784452,"name":"erichosk","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-1","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Debut Tiger","description":"Join the tiger community for 500 days","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.07.24","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880736196,"type":1,"supId":0,"prevId":0,"content":"<u>done</u>","text":"<u>done</u>","html":"<u>done</u>"}],"langContent":"EN"},{"id":880738519,"gmtCreate":1631080110931,"gmtModify":1676530461926,"author":{"id":"3585997214465926","authorId":"3585997214465926","name":"fann","avatar":"https://static.tigerbbs.com/c31475daaad7003b58f3385789c2f471","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3585997214465926","authorIdStr":"3585997214465926"},"htmlText":"h","listText":"h","text":"h","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/880738519","repostId":2165366198,"repostType":4,"repost":{"id":"2165366198","pubTimestamp":1631079578,"share":"https://ttm.financial/m/news/2165366198?lang=&edition=fundamental","pubTime":"2021-09-08 13:39","market":"us","language":"en","title":"Coinbase Gets Wells Notice From the SEC on Its Lend Product","url":"https://stock-news.laohu8.com/highlight/detail?id=2165366198","media":"Bloomberg","summary":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist,","content":"<ul>\n <li>Exchange said it’s been ‘proactively engaging’ with SEC</li>\n <li>SEC asked for names of everyone on waitlist, Coinbase said</li>\n</ul>\n<p>Coinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.</p>\n<p>The U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.</p>\n<p>“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”</p>\n<p>The agency has said it’s assessing Lend through Supreme Court cases called&nbsp;Howey&nbsp;from 1946 and&nbsp;Reves&nbsp;from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.</p>\n<p>“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.</p>\n<p><img src=\"https://static.tigerbbs.com/8b49614d38c2cde552baee68e49d1265\" tg-width=\"746\" tg-height=\"471\" width=\"100%\" height=\"auto\"></p>\n<p>The SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.</p>\n<p>In recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.</p>\n<p>New SEC Chair Gary Gensler, who’s repeatedly&nbsp;rung alarm bells&nbsp;over crypto exchanges during&nbsp;his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren&nbsp;that regulators need&nbsp;more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.</p>\n<p>The SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.</p>\n<p>“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Gets Wells Notice From the SEC on Its Lend Product</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase Gets Wells Notice From the SEC on Its Lend Product\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 13:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165366198","content_text":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.\nThe U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.\n“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”\nThe agency has said it’s assessing Lend through Supreme Court cases called Howey from 1946 and Reves from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.\n“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.\n\nThe SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.\nIn recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.\nNew SEC Chair Gary Gensler, who’s repeatedly rung alarm bells over crypto exchanges during his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren that regulators need more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.\nThe SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.\n“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5790521,"gmtCreate":1631080369143,"gmtModify":1663233550740,"authorId":3583029437333652,"author":{"id":3583029437333652,"idStr":"3583029437333652","authorId":3583029437333652,"name":"Huntsilencer","avatar":"https://static.tigerbbs.com/9b69d6b5db7ba7ec92be9ac8c5c5705c","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880738519,"type":1,"supId":0,"prevId":0,"content":"<u>up</u>","text":"<u>up</u>","html":"<u>up</u>"}],"langContent":"EN"},{"id":880733749,"gmtCreate":1631079953481,"gmtModify":1676530461880,"author":{"id":"3568696694714874","authorId":"3568696694714874","name":"Diamondhand6","avatar":"https://static.tigerbbs.com/3d95004a1d764b1b82eacaa7b9537269","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3568696694714874","authorIdStr":"3568696694714874"},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/880733749","repostId":2165366198,"repostType":4,"repost":{"id":"2165366198","pubTimestamp":1631079578,"share":"https://ttm.financial/m/news/2165366198?lang=&edition=fundamental","pubTime":"2021-09-08 13:39","market":"us","language":"en","title":"Coinbase Gets Wells Notice From the SEC on Its Lend Product","url":"https://stock-news.laohu8.com/highlight/detail?id=2165366198","media":"Bloomberg","summary":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist,","content":"<ul>\n <li>Exchange said it’s been ‘proactively engaging’ with SEC</li>\n <li>SEC asked for names of everyone on waitlist, Coinbase said</li>\n</ul>\n<p>Coinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.</p>\n<p>The U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.</p>\n<p>“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”</p>\n<p>The agency has said it’s assessing Lend through Supreme Court cases called&nbsp;Howey&nbsp;from 1946 and&nbsp;Reves&nbsp;from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.</p>\n<p>“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.</p>\n<p><img src=\"https://static.tigerbbs.com/8b49614d38c2cde552baee68e49d1265\" tg-width=\"746\" tg-height=\"471\" width=\"100%\" height=\"auto\"></p>\n<p>The SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.</p>\n<p>In recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.</p>\n<p>New SEC Chair Gary Gensler, who’s repeatedly&nbsp;rung alarm bells&nbsp;over crypto exchanges during&nbsp;his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren&nbsp;that regulators need&nbsp;more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.</p>\n<p>The SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.</p>\n<p>“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Gets Wells Notice From the SEC on Its Lend Product</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase Gets Wells Notice From the SEC on Its Lend Product\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 13:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165366198","content_text":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.\nThe U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.\n“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”\nThe agency has said it’s assessing Lend through Supreme Court cases called Howey from 1946 and Reves from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.\n“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.\n\nThe SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.\nIn recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.\nNew SEC Chair Gary Gensler, who’s repeatedly rung alarm bells over crypto exchanges during his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren that regulators need more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.\nThe SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.\n“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5790665,"gmtCreate":1631082178351,"gmtModify":1663233549435,"authorId":3584235357352543,"author":{"id":3584235357352543,"idStr":"3584235357352543","authorId":3584235357352543,"name":"huilly","avatar":"https://static.itradeup.com/news/b7a1fde5f6063db10091e669c2cc21f3","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880733749,"type":1,"supId":5790553,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"},{"id":5790553,"gmtCreate":1631080805156,"gmtModify":1663233548549,"authorId":3572923710314905,"author":{"id":3572923710314905,"idStr":"3572923710314905","authorId":3572923710314905,"name":"huathuatking","avatar":"https://static.tigerbbs.com/2f213995240eaab2cd1ce03e0a2cde28","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880733749,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"},{"id":880733251,"gmtCreate":1631079927073,"gmtModify":1676530461872,"author":{"id":"3583200658221727","authorId":"3583200658221727","name":"Ahyie","avatar":"https://static.tigerbbs.com/e4b82bf7f6f7497461e1bcd1648aac18","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3583200658221727","authorIdStr":"3583200658221727"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/880733251","repostId":2165366198,"repostType":4,"repost":{"id":"2165366198","pubTimestamp":1631079578,"share":"https://ttm.financial/m/news/2165366198?lang=&edition=fundamental","pubTime":"2021-09-08 13:39","market":"us","language":"en","title":"Coinbase Gets Wells Notice From the SEC on Its Lend Product","url":"https://stock-news.laohu8.com/highlight/detail?id=2165366198","media":"Bloomberg","summary":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist,","content":"<ul>\n <li>Exchange said it’s been ‘proactively engaging’ with SEC</li>\n <li>SEC asked for names of everyone on waitlist, Coinbase said</li>\n</ul>\n<p>Coinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.</p>\n<p>The U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.</p>\n<p>“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”</p>\n<p>The agency has said it’s assessing Lend through Supreme Court cases called&nbsp;Howey&nbsp;from 1946 and&nbsp;Reves&nbsp;from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.</p>\n<p>“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.</p>\n<p><img src=\"https://static.tigerbbs.com/8b49614d38c2cde552baee68e49d1265\" tg-width=\"746\" tg-height=\"471\" width=\"100%\" height=\"auto\"></p>\n<p>The SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.</p>\n<p>In recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.</p>\n<p>New SEC Chair Gary Gensler, who’s repeatedly&nbsp;rung alarm bells&nbsp;over crypto exchanges during&nbsp;his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren&nbsp;that regulators need&nbsp;more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.</p>\n<p>The SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.</p>\n<p>“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Gets Wells Notice From the SEC on Its Lend Product</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase Gets Wells Notice From the SEC on Its Lend Product\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 13:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165366198","content_text":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.\nThe U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.\n“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”\nThe agency has said it’s assessing Lend through Supreme Court cases called Howey from 1946 and Reves from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.\n“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.\n\nThe SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.\nIn recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.\nNew SEC Chair Gary Gensler, who’s repeatedly rung alarm bells over crypto exchanges during his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren that regulators need more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.\nThe SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.\n“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5790469,"gmtCreate":1631079959584,"gmtModify":1663233548433,"authorId":3568696694714874,"author":{"id":3568696694714874,"idStr":"3568696694714874","authorId":3568696694714874,"name":"Diamondhand6","avatar":"https://static.tigerbbs.com/3d95004a1d764b1b82eacaa7b9537269","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880733251,"type":1,"supId":0,"prevId":0,"content":"Like","text":"Like","html":"Like"},{"id":5790468,"gmtCreate":1631079951292,"gmtModify":1631892079696,"authorId":3586385435665657,"author":{"id":3586385435665657,"idStr":"3586385435665657","authorId":3586385435665657,"name":"棒棒妞","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880733251,"type":1,"supId":0,"prevId":0,"content":"bo","text":"bo","html":"bo"}],"langContent":"EN"},{"id":880739355,"gmtCreate":1631079815577,"gmtModify":1676530461841,"author":{"id":"3585694968236372","authorId":"3585694968236372","name":"Phoenix5104","avatar":"https://static.tigerbbs.com/f0a316ae2880cadff61373ca7d5cf06a","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3585694968236372","authorIdStr":"3585694968236372"},"htmlText":"Haha ok","listText":"Haha ok","text":"Haha ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/880739355","repostId":2165366198,"repostType":4,"repost":{"id":"2165366198","pubTimestamp":1631079578,"share":"https://ttm.financial/m/news/2165366198?lang=&edition=fundamental","pubTime":"2021-09-08 13:39","market":"us","language":"en","title":"Coinbase Gets Wells Notice From the SEC on Its Lend Product","url":"https://stock-news.laohu8.com/highlight/detail?id=2165366198","media":"Bloomberg","summary":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist,","content":"<ul>\n <li>Exchange said it’s been ‘proactively engaging’ with SEC</li>\n <li>SEC asked for names of everyone on waitlist, Coinbase said</li>\n</ul>\n<p>Coinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.</p>\n<p>The U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.</p>\n<p>“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”</p>\n<p>The agency has said it’s assessing Lend through Supreme Court cases called&nbsp;Howey&nbsp;from 1946 and&nbsp;Reves&nbsp;from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.</p>\n<p>“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.</p>\n<p><img src=\"https://static.tigerbbs.com/8b49614d38c2cde552baee68e49d1265\" tg-width=\"746\" tg-height=\"471\" width=\"100%\" height=\"auto\"></p>\n<p>The SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.</p>\n<p>In recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.</p>\n<p>New SEC Chair Gary Gensler, who’s repeatedly&nbsp;rung alarm bells&nbsp;over crypto exchanges during&nbsp;his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren&nbsp;that regulators need&nbsp;more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.</p>\n<p>The SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.</p>\n<p>“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Gets Wells Notice From the SEC on Its Lend Product</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase Gets Wells Notice From the SEC on Its Lend Product\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 13:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165366198","content_text":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.\nThe U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.\n“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”\nThe agency has said it’s assessing Lend through Supreme Court cases called Howey from 1946 and Reves from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.\n“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.\n\nThe SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.\nIn recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.\nNew SEC Chair Gary Gensler, who’s repeatedly rung alarm bells over crypto exchanges during his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren that regulators need more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.\nThe SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.\n“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5790455,"gmtCreate":1631079843276,"gmtModify":1663233549844,"authorId":3575280267029660,"author":{"id":3575280267029660,"idStr":"3575280267029660","authorId":3575280267029660,"name":"Cindypoonyw","avatar":"https://static.tigerbbs.com/b45818b9b1b80dfeb87d018927a22632","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880739355,"type":1,"supId":0,"prevId":0,"content":"Like","text":"Like","html":"Like"}],"langContent":"EN"},{"id":880730548,"gmtCreate":1631079790584,"gmtModify":1676530461832,"author":{"id":"4089977591762440","authorId":"4089977591762440","name":"Sysyong","avatar":"https://static.tigerbbs.com/3376459a25c36ef531a753edde188599","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4089977591762440","authorIdStr":"4089977591762440"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/880730548","repostId":2165366198,"repostType":4,"repost":{"id":"2165366198","pubTimestamp":1631079578,"share":"https://ttm.financial/m/news/2165366198?lang=&edition=fundamental","pubTime":"2021-09-08 13:39","market":"us","language":"en","title":"Coinbase Gets Wells Notice From the SEC on Its Lend Product","url":"https://stock-news.laohu8.com/highlight/detail?id=2165366198","media":"Bloomberg","summary":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist,","content":"<ul>\n <li>Exchange said it’s been ‘proactively engaging’ with SEC</li>\n <li>SEC asked for names of everyone on waitlist, Coinbase said</li>\n</ul>\n<p>Coinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.</p>\n<p>The U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.</p>\n<p>“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”</p>\n<p>The agency has said it’s assessing Lend through Supreme Court cases called&nbsp;Howey&nbsp;from 1946 and&nbsp;Reves&nbsp;from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.</p>\n<p>“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.</p>\n<p><img src=\"https://static.tigerbbs.com/8b49614d38c2cde552baee68e49d1265\" tg-width=\"746\" tg-height=\"471\" width=\"100%\" height=\"auto\"></p>\n<p>The SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.</p>\n<p>In recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.</p>\n<p>New SEC Chair Gary Gensler, who’s repeatedly&nbsp;rung alarm bells&nbsp;over crypto exchanges during&nbsp;his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren&nbsp;that regulators need&nbsp;more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.</p>\n<p>The SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.</p>\n<p>“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Gets Wells Notice From the SEC on Its Lend Product</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase Gets Wells Notice From the SEC on Its Lend Product\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 13:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165366198","content_text":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.\nThe U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.\n“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”\nThe agency has said it’s assessing Lend through Supreme Court cases called Howey from 1946 and Reves from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.\n“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.\n\nThe SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.\nIn recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.\nNew SEC Chair Gary Gensler, who’s repeatedly rung alarm bells over crypto exchanges during his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren that regulators need more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.\nThe SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.\n“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5790452,"gmtCreate":1631079828073,"gmtModify":1663233550141,"authorId":3585694968236372,"author":{"id":3585694968236372,"idStr":"3585694968236372","authorId":3585694968236372,"name":"Phoenix5104","avatar":"https://static.tigerbbs.com/f0a316ae2880cadff61373ca7d5cf06a","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880730548,"type":1,"supId":0,"prevId":0,"content":"ok <u>too</u>","text":"ok <u>too</u>","html":"ok <u>too</u>"}],"langContent":"EN"},{"id":880730123,"gmtCreate":1631079756262,"gmtModify":1676530461833,"author":{"id":"3578269878229068","authorId":"3578269878229068","name":"javiery","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3578269878229068","authorIdStr":"3578269878229068"},"htmlText":"Gd","listText":"Gd","text":"Gd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/880730123","repostId":2165366198,"repostType":4,"repost":{"id":"2165366198","pubTimestamp":1631079578,"share":"https://ttm.financial/m/news/2165366198?lang=&edition=fundamental","pubTime":"2021-09-08 13:39","market":"us","language":"en","title":"Coinbase Gets Wells Notice From the SEC on Its Lend Product","url":"https://stock-news.laohu8.com/highlight/detail?id=2165366198","media":"Bloomberg","summary":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist,","content":"<ul>\n <li>Exchange said it’s been ‘proactively engaging’ with SEC</li>\n <li>SEC asked for names of everyone on waitlist, Coinbase said</li>\n</ul>\n<p>Coinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.</p>\n<p>The U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.</p>\n<p>“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”</p>\n<p>The agency has said it’s assessing Lend through Supreme Court cases called&nbsp;Howey&nbsp;from 1946 and&nbsp;Reves&nbsp;from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.</p>\n<p>“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.</p>\n<p><img src=\"https://static.tigerbbs.com/8b49614d38c2cde552baee68e49d1265\" tg-width=\"746\" tg-height=\"471\" width=\"100%\" height=\"auto\"></p>\n<p>The SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.</p>\n<p>In recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.</p>\n<p>New SEC Chair Gary Gensler, who’s repeatedly&nbsp;rung alarm bells&nbsp;over crypto exchanges during&nbsp;his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren&nbsp;that regulators need&nbsp;more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.</p>\n<p>The SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.</p>\n<p>“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Gets Wells Notice From the SEC on Its Lend Product</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoinbase Gets Wells Notice From the SEC on Its Lend Product\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 13:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.bloomberg.com/news/articles/2021-09-08/coinbase-gets-wells-notice-from-the-sec-on-its-lend-product?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165366198","content_text":"Exchange said it’s been ‘proactively engaging’ with SEC\nSEC asked for names of everyone on waitlist, Coinbase said\n\nCoinbase Global Inc. was warned by the Securities and Exchange Commission against launching a product that would allow consumers to earn interest on their crypto holdings.\nThe U.S.’s biggest cryptocurrency exchange said it received a Wells notice saying the agency will bring an enforcement action if the company goes ahead with its Lend product. Coinbase expressed surprise at the SEC’s move,in a blog post, adding it plans to delay the launch at least until October.\n“The SEC has told us it wants to sue us over Lend. We have no idea why,” the post written by Chief Legal Officer Paul Grewal is titled. It goes on to say the SEC has told Coinbase it considers Lend “to involve a security, but wouldn’t say why or how they’d reached that conclusion.”\nThe agency has said it’s assessing Lend through Supreme Court cases called Howey from 1946 and Reves from 1990, Grewal said, adding that formal guidance about how the SEC plans to apply those tests to such products would be helpful.\n“They’ve offered us the chance to submit a written defense of Lend, but that would be futile when we don’t know the reasons behind the SEC’s concerns,” Grewal continued.\n\nThe SEC didn’t immediately respond to an email and phonecall from Bloomberg News in overnight hours.\nIn recent months, various state agencies have issued warnings about similar yield-earning accounts from BlockFi Lending LLC. Regulators are considering going after other companies offering such products, Bloomberg reported recently.\nNew SEC Chair Gary Gensler, who’s repeatedly rung alarm bells over crypto exchanges during his tenure, said in an Aug. 5 letter to Senator Elizabeth Warren that regulators need more resources to protect crypto investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.\nThe SEC has also asked for the name and contact information of every person on the Lend waitlist, Coinbase’s Grewal said.\n“We have not agreed to provide that because we take a very cautious approach to requests for customers’ personal information,” he said. “We also don’t believe it is relevant to any particular questions the SEC might have about Lend involving a security, especially when the SEC won’t share any of those questions with us.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5790446,"gmtCreate":1631079796117,"gmtModify":1663233548741,"authorId":4089977591762440,"author":{"id":4089977591762440,"idStr":"4089977591762440","authorId":4089977591762440,"name":"Sysyong","avatar":"https://static.tigerbbs.com/3376459a25c36ef531a753edde188599","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":880730123,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":43,"commentSize":14,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}