Coinbase's Armstrong 'Surprised' by SEC's Unwillingness to Discuss Lend Product
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The SEC had no interest in meeting with Coinbase despite the fact the exchange is the first public crypto company in the US, Coinbase CEO, Brian Armstrong, said during in interview on Anthony Pompliano's Best Business Show. Armstrong says he reached out to the SEC after the exchange received a Wells notice from the regulator:

"When I went to DC I reached out to the SEC. I tried to get a meeting with them. They told me that they were not meeting with any crypto companies."

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Armstrong says he was surprised by that as "every single" regulator has been willing to meet with the exchange to discuss regulatory framework. He noted the SEC was "the only regulator" that Coinbase was not able to meet with as the first cryptocurrency public company in the US.

"There is something kind of strange going on there. I wish that we would be basically all just be able to pick up the phone and talk about this stuff. It does not need to be a combative stance," Armstrong emphasized.

Celsius Network is Accused of Violating the Securities Law

The Coinbase CEO's comments came after the SEC — according to the exchange — threatened to sue it over the lending product called Coinbase Lend. The cryptocurrency exchange abandoned plans for the new product despite the fact other cryptocurrency companies have been actively offering pretty similar services for US citizens over the past few years now without regulatory burden.

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