Coinbase CEO Tweets Rumors Of Retail Staking Ban, Kraken Faces SEC Probe


Coinbase (COIN) CEO Brian Armstrong tweeted about rumors that the Securities and Exchange Commission (SEC) may ban crypto staking for retail customers as regulators reportedly probe crypto exchange Kraken for selling unregistered securities, signs that increased regulatory scrutiny for cryptocurrencies may be in the cards.

Key Takeaways

  • Coinbase CEO Brian Armstrong tweeted about a rumored SEC ban on staking for retail investors.
  • Armstrong argues such a ban would stifle innovation and lead to crypto companies moving offshore.
  • Kraken is reportedly under SEC investigation for selling unregistered securities.

Armstrong Thinks That Ban Would Set US Back

Armstrong tweeted Wednesday about rumors that the SEC “would like to get rid of crypto staking in the U.S. for retail customers.” He said that staking is important for the crypto market and brings improvements such as “scalability, increased security, and reduced carbon footprints.” He also says that staking is not a security.

A related but separate Bloomberg report said that the SEC was investigating…

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