Celsius CEO supports Coinbase over SEC’s Issues On Yield Services

A matter between Coinbase and the SEC seems offensive. Celsius CEO talked about this matter and supported Coinbase. 

Recently SEC claimed that they will consider Coinbase’s USDC lending feature as an unregistered securities and after that Brian Armstrong, CEO of Coinbase, showed his frustration on twitter and asked why SEC don’t want clearfied that what is the problem with their new lending yield plan. While they are already giving Ethereum lending services. 

Related: SEC hammer on Coinbase’s Yield Product, Coinbase CEO response

Alex Mashinsky, Celsius Network co-founder and CEO, talked to Yahoo Finance on Wednesday about this matter and said that everyone in this crypto space wants clarity from the SEC. 

“I think we’re going through these murky waters right now and we need to get clarity and its going to take a little bit of time before we get the rules and we can start running faster.”

In a conversation with Cointelegraph.com, Mashinsky said that there are already many Yield platforms which are giving similar services and also Coinbase giving the same yield feature for Ethereum but still here SEC have problems with the USDC interest system. 

And further Celsius ceo said that Coinbase may follow the footsteps of Ripple to fight in the court 

“Everyone has to wait and see what the SEC will issue as regulation. Looks like Coinbase wants to take the SEC to court like XRP and prove they went beyond their charter.”

Celsius Network is a Yield & lending platform where crypto users can hold assets and make earnings just like saving bank accounts

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