WASHINGTON/HONG KONG :The U.S. Securities and Exchange Commission has told Coinbase Global Inc that it plans to sue the cryptocurrency exchange if it goes ahead with plans to launch a programme allowing users to earn interest by lending digital assets, Coinbase said.
The executive's remarks provide a glimpse into the rising tension between the crypto industry and regulators, which have been ratcheting up scrutiny of a world that has so far existed in a regulatory gray area. Gensler is seeking more authority for the agency to oversee a world he described last month as a"Wild West" riddled with fraud and investor risk. He has said some digital assets and platforms are operating as or offering securities, bringing them under the SEC's oversight.