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The SEC Is Cracking Down On Coinbase
Posted
September 13, 2021
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24
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September 13, 2021
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2:04Now PlayingThe SEC is coming after Coinbase. Check out the video to learn why!
Welcome back to Bold TV with Philip Michael. Be sure to like, comment, and subscribe to Bold TV for other finance news, and all things Bold.
The SEC has decided to crack down on Coinbase. Coinbase has received a notice of possible enforcement from the SEC against Coinbase’s interest-earning product called Coinbase Lend. Coinbase was planning to launch this product in the next coming weeks, meanwhile, shares of Coinbase were down last Wednesday.
This is yet another piece of news in cryptocurrency news. This happened the same week that El Salvador decided to adopt another cryptocurrency, Bitcoin as its national currency. The SEC also came after Robinhood and other operators in the space.
Clearly, SEC is active in the cryptocurrency space and wants to get some cryptocurrency regulation started, which is necessary since the crypto space has many $!*^coins and pump and dump schemes. This obviously needs to be prevented.
In terms of Coinbase, they are a solid company that is trying to bring more people into the crypto space. It is unsurprising with such a new thing as cryptocurrency there is friction and problems occurring.
It is unclear what the future of cryptocurrency is but what is clear is that the SEC is coming into the space for more regulation. Those who have $!*^coins and pump and dump schemes, their days may be numbered.
What do you think the future of cryptocurrency is? Let us know in the comments below.
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