On Feb. 9, Brian Armstrong cautioned that they were hearing rumors that the SEC would like to “get rid of crypto staking in the U.S. for retail customers.”
He said he hopes that is not the case as “I believe it would be a terrible path for the U.S. if that was allowed to happen.”
Armstrong highlighted some of the benefits of staking, adding that it brings many positive improvements to the industry. These include scalability, increased security, reduced carbon footprints, and enabling users to participate in running a crypto network.
1/ We’re hearing rumors that the SEC would like to get rid of crypto staking in the U.S. for retail customers. I hope that’s not the case as I believe it would be a terrible path for the U.S. if that was allowed to happen.
— Brian Armstrong (@brianarmstrong) February 8, 2023
SEC: Regulation by Enforcement
The SEC has other ideas, however, and wants to treat proof-of-stake tokens the same as it does stocks – as securities.
