While Armstrong’s suspicions may come as a surprise to many in the industry, SEC Chairman Gary Gensler has previously stated that cryptocurrencies that allow staking could be classified as securities under the Howey test – even though ether has been designated as a commodity by the SEC’s sister regulator, the Commodity Futures Trading Commission (CFTC).
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Coinbase’s (COIN) Brian Armstrong Cites ‘Rumors’ the SEC May Ban Retail Crypto Staking