Coinbase CEO Brian Armstrong has warned that a hostile regulatory approach by the SEC could drive the crypto industry outside of the US. In a televised interview with Bloomberg, Armstrong said that almost all major financial hubs have introduced comprehensive crypto legislation, and that the US should also follow suit.
He also reiterated his position about the SEC's recent move to consider Kraken's staking product as a security, claiming that staking should not be classified as a security. The SEC has reached an agreement with crypto exchange Kraken to stop offering staking services or programs to clients in the country. Coinbase published a blog post that argued crypto staking is not a security under the US Securities Act, nor under the Howey test.
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Coinbase, Brian Armstrong, Staking, SEC
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#shorts #bitcoin #BTC #crypto #ethereum #cryptocurrency #altcoins #eth #cryptonews #coinbase #brianarmstrong #sec #staking
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