• Coinbase, the largest and most popular crypto exchange in the U.S., announced it will be integrating the bitcoin Lightning Network onto its platform.
• The Lightning Network helps move various (smaller) bitcoin transactions off-chain, thus ensuring the network has less baggage to deal with and that transactions are faster and less costly.
• Coinbase’s announcement comes at a time when it is receiving a Wells notice from the SEC, which could potentially lead to future charges for the company.

Coinbase to Integrate Bitcoin’s Lightning Network

Coinbase – the largest and most popular crypto exchange in the U.S.– has confirmed it’s going to be integrating the bitcoin Lightning Network onto its platform, thus ensuring bitcoin transactions scale and move along at quicker paces.

What is The Lightning Network?

The Lightning Network has been all the rage in the bitcoin community for some time. The idea is that it helps move various (smaller) bitcoin transactions off-chain, thus ensuring the network has less baggage to deal with. Removing some of these lesser transactions from the BTC mainframe allows bitcoin to move faster when being transferred between wallets. It also ensures transactions are less costly, which has been a problem with bitcoin in the past.

Coinbase Receives Wells Notice From SEC

The news involving the Lightning Network was announced on Twitter by Brian Armstrong, the CEO of Coinbase. He stated: “Lightning is great and something we’ll integrate.“ This news comes at an interesting time given Coinbase is dealing with quite a bit right now. Not long ago, Coinbase received a Wells notice from Securities and Exchange Commission (SEC). A Wells notice doesn’t charge a company with any crime; however, it’s a warning that future charges may be coming.

SEC’s Impact on Crypto Companies

The agency has made a living out of attacking crypto firms such as Kraken, which was recently forced to part with a $30 million penalty fee and end all its staking services. It seems like SEC is simply looking to garner as much penalty money as it can from digital currency enterprises.

„Looking Forward To Seeing Lighting Support On Coinbase“

„Looking forward to seeing Lightening support on Coinbase,“ said Gabor Gurbacs –a crypto entrepreneur and advisor to Van Eck– regarding this news.