Moreover, in August 2022, SEC was investigating Coinbase staking operations. According to Etherscan, the exchange Coinbase is the second-largest depositor of staked Ether.įurther, the companies allow users to stake cryptocurrency and receive significant returns without specialized computers or equipment or a minimum of 32 Ether requirement. As the crypto exchanges like Coinbase, Kraken, and others have entered the staking market to expand their revenue streams. Staking entails receiving rewards in exchange for holding coins to maintain transaction orders on various blockchains. SEC chose not to respond to any of Armstrong’s tweets”. If you want to include this data, I would suggest you. And that should be regulated by its guidelines. The Binance API does not import Staking transactions as they deem these to be non-taxable transactions. Binance.US/en/staking Need a safe and instant way to send, request and receive crypto BinanceUS. Also, previously, the SEC chair Gary Gensler, suggested that staking may fall under the regulator’s authority. Despite the fact that the Commodity Futures Trading Commission (CFTC), has classified Ether as a commodity.Īccording to the regulators, the majority of digital tokens are securities. Staking rewards for ALGO and ATOM have been distributed. Staking brings many positive improvements to the space, including scalability, increased security, and reduced carbon footprints.Īrmstrong’s tweet may be surprised many in the cryptocurrency industry. It allows users to participate directly in running open crypto networks. Staking is a really important innovation in crypto. And, he highlighted FTX and said Enforcement-based regulation encourages companies to run operations overseas. Securities and Exchange Commission (SEC) wants to “get rid of individual investors” from staking cryptocurrency.Īccording to a February 9th tweet from Coinbase’s Chief Executive officer, the U.S SEC intends to ban retail investors from participating in staking crypto, the revenue-generating strategy at the base of operating blockchains, such as Ethereum. BNB Staking 101: How to Stake Using Binance.US Education Leadership Product You've successfully subscribed to Blog & Resources Binance.US Great Next, complete checkout for full access to Blog & Resources Binance.US Welcome back You've successfully signed in Success Your account is fully activated, you now have access to all content. SEC remaining silent for Brian Armstrong’s Tweets.Ĭrypto exchange Coinbase CEO Brian Armstrong was alarmed about the rumors he received that the U.S. Coinbase CEO says Enforcement-based regulation doesn’t work.
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