SEC Says No to Coinbase Lending & Interest Earning Proposal

Bitcoin tilted

Coinbase (COIN) has been working on offering cryptocurrency holders the ability to lend out their holdings in order to earn interest.

However, the Coinbase co-founder and CEO Brian Armstrong said recently the SEC would not allow this type of service and said that the SEC threatened to sue Coinbase  if they did.

This is in spite of the fact that other crypto companies are already offering this type of service.