Coinbase's CEO Cites 'Rumors' the SEC May Ban Crypto Staking for Retail Customers
Coinbase CEO Brian Armstrong says he's heard rumors the U.S. Securities and Exchange Commission would like to ban retail investors from engaging in cryptocurrency staking, the income-generating technique at the core of running blockchains including Ethereum.
"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," he tweeted Wednesday.
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 (@brian_armstrong) February 8, 2023
The SEC declined to comment.
UPDATE (Feb. 8, 2023, 23:25 UTC): Adds that the SEC declined to comment.