Brian Armstrong, CEO of Coinbase, the largest US crypto exchange, stated that the exchange’s staking services are not securities, and that he will defend it in court if necessary.
Armstrong on February 12 via his official Twitter account. in his poststaking services of cryptocurrency exchange Kraken stop by agreement with to increasing SEC pressures He responded by quoting a blog post. CEO says Coinbase staking services are not securities while underlining He also stated that if necessary, he can discuss this situation in court.
In a blog post published by Coinbase, the exchange’s staking services discuss the securities status. did not meet stating the reason detailed explained somehow. In addition, Coinbase staking services Howey Test “Investment of money, joint venture, reasonable expectation of profit and labor of third parties” like four basis expectation did not meet alleged.
Paul Grewal, Coinbase’s Chief Legal Officer, said in a recent post that staking services cannot be considered securities and that a wrong regulatory approach can result in disaster.