Coinbase, one of the largest cryptocurrency exchanges in the United States, has been caught in a legal dispute with the Securities and Exchange Commission (SEC). The SEC has accused Coinbase of planning to launch a lending product without registering it as a security. Coinbase has pushed back against the allegations, arguing that the product is not a security and that it has engaged in extensive discussions with the SEC.

The dispute has drawn significant attention from the crypto industry, with many observers expressing concern over the potential impact on the broader market. Some have suggested that the outcome of the dispute could set an important precedent for how regulators approach the rapidly evolving world of cryptocurrency.