- Top executives of leading crypto exchange clarify company’s stance on crypto staking
- Coinbase (NASDAQ: COIN) stock dropped over 21% in the last five days
The United States Securities and Exchange Commission’s abrupt actions against prominent crypto exchange Kraken sent chills to the border crypto space. The take of the financial regulator for crypto staking signals others to take care of their business related to the same. Leading US crypto exchange Coinbase has clarified intentions if the SEC would come after chasing the crypto staking operations.
Chief executive office of Coinbase, Brian Armstrong, took to Twitter and noted that the staking services of the crypto exchange do not fall under securities obligations. He mentioned looking at the matter within the court if it requires the company. The tweet also consisted of a blog post by Coinbase chief legal officer Paul Grewal.
Source: https://www.thecoinrepublic.com/2023/02/13/coinbase-will-tussle-with-sec-if-asked-to-shut-down-crypto-staking/