Will crypto staking be banned in the US? This fake news sounds the alarm according to Coinbase

Reserve staking for the rich? – Consensus-based crypto networks by Proof of Stake (PoS) are more and more numerous. The incentives provided by staking rewards are very popular, and even banks like Revolut offer staking to their customer. But, according to some rumors, American individuals could soon be deprived of staking ! He is the CEO of CoinbaseBrian Armstrong, who is sounding the alarm.

Fake news about Coinbase, which raises real fears for staking

These concerns about the future of staking of cryptocurrencies in the United States, came on the basis of a rumor re Coinbase. Although the latter was quickly and clearly denied by the chief legal officer (CLO) of the crypto-stock exchange, Paul Grewalshe asked a real question, not to say a big discomfort.

Indeed, according to the initial false information, Coinbase would have been asked tostop his offer of staking, following a “coordinated” attack from various US agencies.

“Coinbase has been ordered to cease cryptocurrency staking, or face fines and other sanction actions. This is a coordinated action/process between several agencies [américaines]. »
Response from Paul Grewal, CLO of Coinbase: “It is totally false. »

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Brian Armstrong worries about potential ‘disastrous pick’ from SEC

If the claim itself is false (for now anyway), the founder and boss of Coinbase, Brian Armstrongexpressed on Twitter the disastrous aspect that such a decision ofprohibition of staking for individuals could have.

The CEO of the exchange platform fears, in fact, that the Securities and Exchange Commission (SEC) of the United States is capable of wanting to impose such class exclusion. He therefore does not want to see a two-speed world, where alone very wealthy investors, institutionals and others “ qualified investors », can take advantage of returns staking cryptocurrencies.

“1/ We are hearing rumors that the SEC wants to remove cryptocurrency staking in the United States for small individual customers. I hope that is not the case, because I believe that would be a disastrous choice for the United States (…).
2/ Staking is a very important innovation in the crypto field. It allows users to participate directly in the management of open crypto networks. (…). »

Brian Armstrong also points out that such regulation by coercion and repression ” does not work “. Indeed, it encourages companies to operate abroad, ” as FTX “. And we all know now how big Sam Bankman-Fried’s empire was. badly and dangerously managed (a “pure hell”) from his tax haven in the Bahamas.

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