{"id":558210,"date":"2023-03-01T22:00:00","date_gmt":"2023-03-01T19:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/coinbase-ceo-reiterates-that-staking-products-arent-securities\/"},"modified":"2023-03-01T22:00:00","modified_gmt":"2023-03-01T19:00:00","slug":"coinbase-ceo-reiterates-that-staking-products-arent-securities","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/coinbase-ceo-reiterates-that-staking-products-arent-securities\/","title":{"rendered":"# Coinbase CEO reiterates that &#8216;staking&#8217; products aren&#8217;t securities"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a29d71a1fee0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a29d71a1fee0\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/coinbase-ceo-reiterates-that-staking-products-arent-securities\/#%E2%80%9D_Coinbase_CEO_reiterates_that_%E2%80%98staking_products_arent_securities_%E2%80%9C\" >&#8221; Coinbase CEO reiterates that &#8216;staking&#8217; products aren&#8217;t securities  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Coinbase_CEO_reiterates_that_%E2%80%98staking_products_arent_securities_%E2%80%9C\"><\/span>&#8221; Coinbase CEO reiterates that &#8216;staking&#8217; products aren&#8217;t securities  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvYjU4ZWQwODAtZTBlYy00MTZkLTliNjMtNzE1M2MzYmIyNDQxLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>Coinbase CEO Brian Armstrong has attempted to quell speculation that his exchange\u2019s staking products should be classified as securities \u2014 upping the ante in the ongoing debate around crypto regulations with the United States Securities and Exchange Commission, or SEC. <\/p>\n<p>In a televised interview with Bloomberg on March 1, Armstrong <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bnnbloomberg.ca\/coinbase-ceo-armstrong-says-staking-product-is-not-a-security-1.1889878\">said<\/a>, \u201cOur staking product is not a security,\u201d referring to cryptocurrencies that can be staked directly on the exchange to generate yields. He continued:<\/p>\n<blockquote><p>\u201cCustomers never turn their assets to Coinbase for instance. And we really just are providing a service that passes through those coins to help them participate in staking, which is a decentralized protocol.\u201d<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">WATCH: Coinbase CEO Brian Armstrong joins Bloomberg TV after\u00a0the biggest US cryptocurrency exchange posted a $557 million loss and saw revenue tumble 75% in the fourth quarter <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/zEfQ0mSMe0\">https:\/\/t.co\/zEfQ0mSMe0<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/dJAkxCtft8\">https:\/\/t.co\/dJAkxCtft8<\/a><\/p>\n<p>\u2014 Bloomberg Markets (@markets) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/markets\/status\/1630956213658701825?ref_src=twsrc%5Etfw\">March 1, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Armstrong\u2019s explanation mirrors the guidance provided by Coinbase\u2019s chief legal officer Paul Grewal, who told shareholders last month that the exchange\u2019s staking products fundamentally differ from the yield products the SEC is targeting. Grewal was referring specifically to the SEC\u2019s recent enforcement action against rival exchange Kraken, which settled with the securities regulator for allegedly failing to register its staking-as-a-service program. As part of its settlement, Kraken agreed to pay $30 million in disgorgement, prejudgment interest and civil penalties. <\/p>\n<p>After settling with Kraken, the SEC has turned its attention to Coinbase\u2019s staking products. Specifically, the regulator is investigating whether Coinbase\u2019s staking products meet the legal definition of a security under the U.S. Securities Act.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Crypto Biz: Coinbase has a lot at stake<\/em><\/strong><\/p>\n<p>Coinbase has been hemorrhaging money during crypto winter, posting a $557 million loss in the fourth quarter. Revenues plummeted 75% year-over-year as trading volumes dried up. <\/p>\n<p>After falling 86% in 2022, Coinbase&#8217;s share price has rebounded sharply this year. The stock is currently trading around $64, having gained over 90% in 2023.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/coinbase-ceo-reiterates-that-staking-products-aren-t-securities\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Coinbase CEO reiterates that &#8216;staking&#8217; products aren&#8217;t securities &#8220; Coinbase CEO Brian Armstrong has attempted to quell speculation that his exchange\u2019s staking products should be classified as securities \u2014 upping the ante in the ongoing debate around crypto regulations with the United States Securities and Exchange Commission, or SEC. In a televised interview with&#8230;<\/p>\n","protected":false},"author":1,"featured_media":558211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/b58ed080-e0ec-416d-9b63-7153c3bb2441.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74957,74956,74860,74898,117,72287],"class_list":["post-558210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-brian-armstrong","tag-coinbase","tag-cryptocurrency-exchange","tag-sec","tag-business","tag-security"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/558210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=558210"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/558210\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/558211"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=558210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=558210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=558210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}