Coinbase Chief Legal Officer Paul Grewal stated that staking services cannot be considered securities and a wrong regulatory approach can result in disaster.
Paul Grewal on his official social media account on February 10. in his post, staking service with the customer more than contract stated that.
regulatory bodies staking And not to mix interest, the underlying technology to understand well Emphasizing the importance of the need for wrong And overbearing users of regulations unregulated to institutions can push implied.
A central hub of staking services no counterparty And decentralized structures Grewal, who claims that the process is carried out in information technology operation, not financial services and that the awards paid are at the initiative of the institutions. not stated.
of the SEC “As users may lose control over their assets in the staking service, institutions must meet the necessary information requirements about the products.” Based on the description of the users on their assets in the staking process, to full control reported that they have However, Paul emphasized that his statements cover real staking services that take place on the blockchain.
Staking services offered by the company transparent somehow has been accounted for and open to the public 2021 quarterly financial reports since made public Recalling, Grewal said that Coinbase of sensitivity underlined.
On the other hand, institutions are concerned about these distinctions. clear rules so that the public can understand the expectations of the regulators. federal lawsuits He said he wouldn’t have to look into it.