Future of crypto lending
Crypto lending has been great and beats a bank savings account with interest at 5% or higher. Now the SEC is going after Coinbase for proposing to start a lending program similar to what BlockFi, Celsius etc. has been doing for years. Is this the beginning of the end for crypto lending? https://www.reuters.com/technology/sec-threatens-sue-coinbase-over-crypto-lending-programme-2021-09-08/
Lending is not same as depositing
The SEC isn’t really interested in stopping this
I don't think Mr. Gensler (head of the SEC) has any desire to end crypto lending but regulate it. Some regulation could actually bring more institutional money and thus expand the market. Gensler taught a course on blockchain and money at MIT prior to take the role with the SEC and it's available on MIT opencourseware, I highly recommend it.
They are not "after" Coinbase. Coinbase is asking for a clear "go ahead" and they are reluctant to say it loudly. It's just a matter of time.
Use Defi, no need for permissions.
Fuck the sec