Coinbase, the largest U.S. cryptocurrency exchange, has been openly criticizing the S.E.C. for threatening to sue Coinbase if it paid interest to customers on their cryptocurrency deposits. This disappointed Coinbase's customers. It also terrified many of Coinbase's competitors, who already offer their customers similar products. In this video, Jeffrey Alberts, co-chair of Pryor Cashman's FinTech Group, discusses the SEC's legal position and how it may be applied to companies who pay interest on cryptocurrency deposits.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.