CoinbaseOne of the largest cryptocurrency exchanges in the US has stated that the staking services provided on its platform do not represent securities. The Statements made in the aftermath of the $30 million deal KrakenAnother US-based crypto platform, ‘, was also signed with the US Securities And Exchange Commission (SEC), further criticizes the administration’s strategy towards the subject.
Coinbase Defends Staking-as-a-Service Program
CoinbaseA significant US-based cryptocurrency platform has published a blog post that distinguishes its staking as-a-service program and clarifies that such a service does not constitute an investment. providing.
In A blog post published Feb. 10, Paul GrewalChief legal officer of the company, explains how unsuitable regulation could have an impact on all crypto exchanges in the country. The This article delineates the firm’s stance on the issue.
Staking Security should not be an issue under the US Securities LawThe aforementioned cannot be compared to the Howey test. Trying To apply securities law to a program like staking does not benefit users. It also imposes excessively strict mandates which could prevent users from accessing the services they need. American Users can access basic crypto services from anywhere in the world.
In addition, Grewal Additional information criticized The US SEC’s approach to cryptocurrency regulation explains that enforcement regulation is an essential part of the US SEC’s strategy. “poor substitute” Please refer to the regulation.
SEC Chairman Gary Gensler More regulatory action hints
Coinbase’s Place appears to be in direct contradiction to the US SEC’s stance on the topic of central platforms for cryptocurrency staking services. On February 9 The authority finalized a $30 Million deal KrakenAnother cryptocurrency platform,.
SEC Chairman Gary Gensler He suggested that more such actions may be in the future for other exchange players, and stated that those companies should inform their users of the risks associated with such activities. On February 10. In an interview on CNBC Squawk Box, Gensler said:
Other Platforms should pay close attention to these issues and try to comply with them, register correctly, and make correct disclosures.
Coinbase It offers cryptocurrency staking apps for various cryptocurrencies as part of its portfolio of services and charges a flat fee to operate these companies. In JPMorgan predicts new investment funds in their recent report Ethereum The upcoming Shanghai Exchange are likely to go to decentralized platforms such as Lido Because they provide different benefits than centralized providers,
What do you think about Coinbase’s What is your opinion of cryptocurrency staking as a service? Tell Please leave a comment below.
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