Coinbase’s (COIN) Brian Armstrong Cites ‘Rumors’ the SEC May Ban Retail Crypto Staking

“Staking tends to get misconstrued with unrelated activities like lending, but staking is fundamentally a way for anyone to join in providing security for proof-of-stake networks,” Mangiero said. “The existence of staking service providers allows everyday Americans to participate in staking, which democratizes network consensus and validation and is core to the continued growth of the global decentralized internet. Any regulatory action that runs counter to this misunderstands the nature of staking, and hinders America’s ongoing efforts to foster domestic technological innovation.”