Lending business or being sued, coinbase CEO publicly choked the SEC

Deep chain finance 2021-09-14 11:32:31 阅读数:22

lending business sued coinbase ceo

9 month 8 Japan , Investors who experienced the sharp fall in the cryptocurrency market last night are shocked , here Coinbase CEO Brian Armstrong For the first time in a row 21 Twitter , Publicly make complaints about / provoke SEC( Securities and Exchange Commission ).

Brian Armstrong  Express , The company plans to go online within a few weeks, and users can borrow money to get a return C2C Lending and financial services , but SEC This is a security , And say if Coinbase Start this service , They will be prosecuted , No explanation was given ……

The following is a Brian Armstrong Contents of the speech , Deep chain finance compilation and sorting :

Recently, the securities and Exchange Commission (SEC) Some of my behaviors don't speak much about martial ethics . The following is the story time .

In the last few years , Millions of cryptocurrency holders have been earning money for their assets . There is nothing wrong with this —— If you lend money , You can earn a return . Everyone is very happy .

A group of great companies in the field of encryption have been providing such services for many years .Coinbase Just recently stood up and said : We will launch our own version .

We planned to go online in a few weeks USDC Lending products , So we contacted SEC, We had a friendly talk with them .

They replied that , This lending product is a security …… ok , It seems strange , How can loan products become Securities ? therefore , We demand SEC Share their views , To help us understand . We always strive to actively cooperate with regulators , Keep an open mind .

They refused to tell us , Why do they think this is a security . But summon us ( We abide by ), Ask our employees to testify ( We abide by ), Then tell us , If we continue to launch this product , They will sue us , Didn't explain why .

see …… We are committed to abiding by the law . Sometimes the law is unclear . therefore , If SEC Want to publish a guide , We are also happy to do so .( If you can actually , Across the industry , Implement this guide equally , That would be great .

But in this case , They refuse to provide written advice to the industry on what should be allowed and why , But close the door , Implement a policy of intimidation . Whatever their theory is , It's like grabbing territory with other regulators 、 Power struggle .

Many other encryption companies can continue to provide loan functions , but Coinbase It was not approved .

If you don't want this kind of activity , Just say it in writing , And implement it equally in the whole industry .

On the surface, ,SEC Our goal is to protect investors , Create a fair market . that , Who are they protecting here , Where is the so-called harm ? People seem happy to make money on these different products , This is the same for other encryption companies .

Shutting down such services will undoubtedly hurt consumers , Instead of protecting consumers . By preventing Coinbase Launch the same products already owned by other companies ,SEC Is creating an unfair market .

This year, 5 month , I went to Washington, D.C , Do your best to meet with every regulator and government department .

SEC Is the only regulator that refused to meet me , call " We won't meet any encryption companies ". And this happened after we became the first encryption company listed in the United States .

SEC chairman Gary Gensler It was confirmed a month ago . because SEC Keep your feet down , I'll brush it off first . I'm also confused now .

We have been trying to be a good player in this field —— Even if the implementation is difficult 、 The high cost of , We also tend to embrace regulation . Before launching the product , We all think about what we want , And what risks we want our families to be aware of .

We will continue to follow this approach .

However , ad locum , We are threatened by law enforcement action , Before the industry receives any practical guidance on these products .

If we finally appear in court , We may get SEC Has been refusing to provide —— Clear regulatory guidelines . But a lawsuit should be SEC As a last resort , Not the first means .

Our door is still open . hope SEC Be able to stand up , Without harming the interests of consumers and companies , Give the regulatory clarity that the industry deserves . The United States can really , Work together to find out this .

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