As dangerous as it sounds for the industry, this article tells us they’ve discussed with the SEC without telling us what was said on their side. It’s difficult to share their confusion if we don’t know what they have fed the regulator.
Common sense makes it sound like Lend is clearly not about securities, but the SEC has generally been looking for settlements or discussion instead of straight litigation. Why the change of motus operandi? Is it because Coinbase is big and it would make an example, or maybe somewhere in Lend there’s a business model that makes the product act like a security? Who knows at this point?
More information from Coinbase would help us empathize.
Common sense makes it sound like Lend is clearly not about securities, but the SEC has generally been looking for settlements or discussion instead of straight litigation. Why the change of motus operandi? Is it because Coinbase is big and it would make an example, or maybe somewhere in Lend there’s a business model that makes the product act like a security? Who knows at this point?
More information from Coinbase would help us empathize.