SEC threatens to sue Coinbase over crypto yield program it considers a security

From cointelegraph.com

The United States Securities and Exchange Commission has reportedly threatened to sue Coinbase over a crypto yield program it deems as a security. Coinbase CEO Brian Armstrong tweeted on Wednesday that there has been some “really sketchy behavior coming out of the SEC recently” before launching into a 21 post thread detailing the SEC’s dealings with the firm. Armstrong explained that the crypto exchange approached the SEC earlier this year to brief the enforcement body over the up-and-coming Coinbase Lend program that intends to offer 4% annual yield returns on deposits of the USD Coin (USDC) stablecoin. ... (full story)