Evan Van Ness shared his point of view on why the SEC has problems with Coinbase’s lending program.
As all of us know very well that Coinbase’s incoming lending program for USDC holders is described as unregistered securities by the SEC. And further Brian Armstrong, CEO of Coinbase, raised a question on twitter that why SEC don’t want clearfield that why they have problem with their upcoming lending program.
Related: Celsius CEO supports Coinbase over SEC’s Issues On Yield Services
Evan Van Ness, Founder of WeekInEthereumNews, entered in this discussion and said that the United States regulators SEC are right to some extent regarding Coinbase’s lending program.
Evan’s further statement indicates that the SEC is doing some planning. Because according to Evan Van, BlockFi is already on the radar of regulators and already described BlockFi”s lending services as unregistered securities.
So probably it is the reason that the SEC doesn’t want to disclose few things.
Here this statement of the Founder of WeekInEthereumNews is a type of alarm for BlockFi and also other platforms like Celsius lending platform.
Now it is expected that one by one all lending platforms will face scrutiny issues by the regulators.
Later this, Celsius Network co-founder also talked about this matter and claimed that the SEC wants to force Coinbase to fight in court like Ripple.
Read also: South African Crypto Exchange Sets Strange Crypto Withdrawal Limits to Restrict Illicit Actors