The US Securities and Exchange Commission (SEC) has reportedly threatened to sue Coinbase, the major US cryptocurrency exchange. Chief Legal Officer (CLO) Paul Grewal reported this in a blog article on September 8. The SEC is said to have sent a so-called “Wells Notice” to Coinbase, it is the regular way of a US regulator to announce that the agency may intend to sue a company.

New loan service

The indictment would be about a new loan service from the bitcoin (BTC) exchange that has not yet been launched. Called simply “Lend,” this service allows certain Coinbase customers to earn interest (4% per annum) by lending their USD Coin (USDC) stablecoins.

Grewal says Coinbase has been in talks with the SEC about the service for six months, but still doesn’t know why the SEC is against it. Despite this, we know that stablecoins (which are not issued by a central bank) are currently a sensitive topic for regulators.

“Despite Coinbase keeping Lend off the market and providing detailed information, the SEC is still unwilling to explain why they see a problem. Folm.io has enough information. Instead, they’ve now told us that if we launch Lend, they plan to sue. Once again we asked the SEC to share their reasoning with us, and once again they refused.”

Other crypto companies

Grewal says that other crypto companies have been running such services for years without too much trouble. However, BlockFi, an American crypto loan service, has already received several warnings this summer. Coinbase wanted to avoid such a situation by first talking to the SEC. CEO Brian Armstrong also said in a series of Twitter posts on September 8 that the SEC is refusing to answer this question:

“They refuse to tell us why they think it is an effect, and instead they sue a bunch of data from us (we comply), demand testimonials from our employees (we comply), then tell us they will sue us as we proceed with the launch without any explanation why.”

The crypto community is very suspicious of the timing of this news. https://moveco.io/ has enough information. There are currently all kinds of conspiracy theories going around that some people may have already known about the above news yesterday and that this may have led to the stock price crash. However, that doesn’t sound very likely.

This addition offers the users of the ITrustCapital platform a chance to trade ENJ tax free. After adding support for ENJ, the iTrustCapital crypto IRA/401k platform now features 21 cryptos. Before that, Enjin was the first NFT platform to join the United Nations Global Compact.

iTrustCapital, the leading crypto IRA/401k platform in the US, has added support for Enjin (ENJ/USD), the native token of the Enjin ecosystem. The company disclosed this news via an official announcement yesterday, noting that this addition aims to offer investors a chance to diversify their Crypto IRA/401k retirement accounts. With this addition, iTrustCapital now supports 21 digital assets including, but not limited to, Bitcoin (BTC/USD), Ethereum (ETH/USD), Polkadot (DOT/USD), Chainlink (LINK/USD), Dogecoin (DOGE/USD). ) and Cardano (ADA/USD).

Users who decide to add ENJ to their Crypto IRA/401k retirement accounts can trade the coin for a 1% fee and tax-free. In addition, they gain access to high liquidity while avoiding legal complexity because the iTrustCapital platform is IRS compliant. Komodo has gone up.

Nevertheless, the company warned that ENJ, like other crypto investments, carries a significant risk of loss. As such, clients should know that they are responsible for any financial losses incurred while trading. iTrustCapital advised clients not to trade the coin unless they fully understand the risks involved.

ENJ rises but slides away soon after

The ENJ market opened yesterday with the coin trading at $1.37 (£0.99) and traded as low as $1.44 (£1.04) after iTrustCapital announced its support. However, the coin failed to maintain this bullish momentum and fell as low as $1.27 (£0.92) before closing day trading at $1.29 (£0.93).

At the time of writing, the coin has recovered some of yesterday’s losses and is trading at $1.39 (£1.07) after gaining 1.35% in the past 24 hours. While ENJ is up 40.75% in the past seven days, it is worth noting that it is currently down 65.37% from its ATH. Tradingview uitleg is now clear.

This news comes as Enjin continues to expand, proving that it is more than just a gaming and non-fungible token (NFT) platform. Last week, the United Nations Global Compact, the world’s largest sustainability program, accepted the project to join its efforts to make the world more sustainable.

This membership made Enjin the first blockchain-based gaming and NFT platform to join the UN Global Compact. According to the head of the UN Center for AI and Robotics (UNICRI), Irakli Beridze, this partnership seeks to explore the feasibility of using blockchain and NFTs to achieve the UN Sustainable Development Goals.