Brian Armstrong, the chief executive officer of the Coinbase cryptocurrency exchange, said on Twitter Monday that the company will “happily defend” its staking services in court against claims that they need to be classified as securities. Coinbase, which trades on the Nasdaq, is the biggest crypto exchange in the U.S. Its shares last traded at US$57.09 on Friday, down 2.5%. Grewal said that staking is not a security under the U.S. Securities Act nor under the Howey test, the latter of which the U.S. Securities and Exchange Commission (SEC) uses to determine whether an investment contract is a security. (forkast)
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Coinbase CEO Says he Will “Happily Defend” Crypto Staking Service Against Claim it’s a Securities Product
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