In the previous year, the Securities and Exchange Commission (SEC) made a determination that staking services should be regarded as securities, which led to platforms such as Kraken Exchange ceasing their staking services in the United States. Nonetheless, Coinbase is taking a different approach and disputing this viewpoint. In March 2023, they took the initiative to submit a “Petition for Rulemaking,” asserting that core staking, which does not involve a direct monetary investment and does not meet the criteria for investments in terms of opportunity costs, should not be classified as a security.
