{"id":16847,"date":"2023-02-12T23:37:35","date_gmt":"2023-02-12T23:37:35","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/coinbase-will-happily-defend-staking-in-us-courts-says-ceo\/"},"modified":"2023-02-12T23:37:37","modified_gmt":"2023-02-12T23:37:37","slug":"coinbase-will-happily-defend-staking-in-us-courts-says-ceo","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/coinbase-will-happily-defend-staking-in-us-courts-says-ceo\/","title":{"rendered":"Coinbase will ‘happily defend’ staking in US courts, says CEO"},"content":{"rendered":"
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Crypto exchange Coinbase’s executives are standing up for its crypto staking services, claiming it cannot be classified as a security, and threatening to bring the matter to the courts in the United States.<\/p>\n
Coinbase CEO Brian Armstrong posted on Twitter that the company will\u00a0\u201cdefend this in court if needed.\u201d The move follows the agreement reached by crypto exchange Kraken with the Securities and Exchange Commission on Feb. 10 to stop offering staking services or programs to clients in the country. <\/p>\n
According to the SEC, Kraken failed \u201cto register the offer and sale of their crypto asset staking-as-a-service program,\u201d which the commission now qualified as securities. Aside from the service’s halt, Kraken agreed to pay $30 million in disgorgement, prejudgment interest and civil penalties.<\/p>\n
\nCoinbase’s staking services are not securities. We will happily defend this in court if needed.https:\/\/t.co\/GtTOz77YV3<\/p>\n