![]() ![]() The exchange says it is advancing this purpose by building the most trusted products, tools, and services, here in the US, with a commitment to help transform our current system, designed before the computer even existed, into one that is digitally native. In developing a regulatory framework for the offering of investment contracts involving digital assets, Coinbase would encourage the SEC to also consider how that framework should apply to any staking services that do constitute an offering of securities.Ĭoinbase warns that getting the regulatory treatment of staking services wrong could unnecessarily stifle financial innovation and harm the 20 percent of Americans who own crypto and the three-quarters of Americans who believe that the current financial system is unfair and needs an update.Ĭoinbase’s mission is to support more economic freedom by making financial products and services more accessible, faster, and cheaper. Coinbase recognizes that there are features of investment contracts involving digital assets that do not squarely fit within existing regulation. Coinbase argues that core staking services neither meet the test as a matter of law nor present the risks the federal securities laws were designed to mitigate.įor those staking services that may constitute an investment contract, Coinbase asks the SEC to provide a path to workable registration. Core staking services do not fit the definition of a securities offering when applying the analysis laid out in the Supreme Court case, SEC v. The SEC’s settlement with Kraken regarding its staking services is seen by Coinbase as providing no guidance about what aspects of staking services may be of concern to the SEC nor providing a path for remediation if needed.Ĭoinbase points out that staking services are not a monolith, and a number of different models exist. Surprising commission actionĬoinbase’s comment was in response to a recent SEC action that suggested that the SEC might consider some staking services as constituting an investment contract and, therefore, a security. The cryptocurrency exchange filed a comment in response to its Jpetition for rulemaking on digital asset securities regulation. Securities and Exchange Commission (SEC) to clarify the regulatory status of staking services as non-securities. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |