Coinbase CEO is Against Potential Ban of Staking in the US

Brian Armstrong, CEO of US-based cryptocurrency exchange Coinbase, has commented on rumors of a possible ban on crypto staking for retail investors in the US, calling it “a terrible path.”

He has said:

“Staking is a really important innovation in the crypto industry. It enables users to directly participate in the operation of open crypto networks and brings many positive improvements to the space.”

He has emphasized that the coins involved in staking are not securities. In this regard, he has separately mentioned Ethereum and has referred to the opinion of Paradigm experts.

After the transition of ETH to the Proof-of-Stake (PoS) algorithm, the head of the SEC, Gary Gensler, allowed in September the recognition of such coins as securities.