SEC staking decision provokes strong pushback from crypto firms and scathing criticism from within Cryptocurrencies
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Grewal said that Coinbase’s customers have a right to their rewards. “We can’t just decide not to pay any rewards at all.” Crypto companies also received support in their battle against the Securities and Exchange Commission from within the regulator itself, as SEC Commissioner Hester Peirce offered a comprehensive and devastating dissent against her own agency’s decision.
She also echoed Coinbase’s assertion that there are important differences between the various offerings. “Staking services are not uniform, so one-off enforcement actions and cookie-cutter analysis does not cut it,” she said. Coinbase CEO Brian Armstrong was quick to retweet the SEC Commissioner’s dissent, and he reinforced her point about the regulator offering no legitimate options for the exchanges. “Well said,” he wrote. “There was no way to register .”
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