Seeking Alpha
2021-09-21 21:00:39

Coinbase plans to pitch cryptocurrency regulations to U.S. officials - CoinDesk

Cryptocurrency exchange Coinbase (NASDAQ:COIN) is readying a regulatory proposal to federal officials, CoinDesk reports, citing sources familiar with the regulatory talks. Although details of the proposal weren't available, the company plans to make its case for what should and shouldn't be defined as a security in the U.S., according to the sources, who added that the proposal will be disclosed in coming days. Late last week, the company said it would drop plans to offer a lending product after the Securities and Exchange Commission threatened to sue. When the SEC notified Coinbase that it would sue if the company proceeded with its Lend product, CEO Brian Armstrong vented on Twitter about the Wells notice. "They refuse to tell us why they think it's a security," he said. Previously (Sept. 8), Coinbase stock price falls 3% after SEC says it may sue on Lend product

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