Coinbase said on Wednesday it was threatened by the Securities and Exchange Commission (SEC) if it proceeds with a plan to launch a program allowing users to earn interest by lending crypto assets. The SEC has issued Coinbase with a Wells notice, an official way it tells a company that it intends to sue the company in court, Paul Grewal, the company’s chief legal officer said in a blog post. He said Coinbase would delay the launch of its ‘Lend’ product until at least October as a result.
Coinbase is a secure platform that makes it easy to buy, sell, and store cryptocurrency like Bitcoin, Ethereum, and more by using the Coinbase app. Is Coinbase safe? Yes, Coinbase is a crypto company based in San Francisco and backed by trusted investors. As of August 2020, it has raised over $547 million.