Coinbase Borrow Service Will Cease to Exist From May 10
However, the crypto exchange stated that there would be no impact on the customers’ outstanding loans. The development comes at a time when Coinbase has been ruffling feathers with the U.S. Securities and Exchange Commission (SEC). The securities regulators and the crypto exchange have taken matters to court. advertisement While the SEC blames Coinbase for violating federal securities laws by selling unregistered tokens, the crypto exchange has blamed the regulator for not providing enough clarity on crypto regulations. Speaking on the recent development, a Coinbase spokesperson told Bloomberg: “We regularly evaluate our products to ensure we’re prioritizing the offerings that our customers care about most”. Coinbase Borrow was a popular service that offered loans of up to $1 million against Bitcoin as collateral. However, this facility was available only in certain US states. Trending Stories MAT...