The Federal Reserve’s policy of raising rates has led to falling prices of Treasurys, which lowered the value of banks’ portfolios. “Cryptocurrencies have exhibited some resilience, in part due to technical reasons,” but also because more people “now appreciate the fundamental value proposition of having an alternative to the points of failure inherent in the traditional financial system,” wrote David Duong, head of institutional research. banking industry, Coinbase (COIN) said in a report Friday. The SEC has already taken action against several cryptocurrency companies for violating securities laws, and has indicated that it will continue to enforce securities regulations in the industry.The medium to long-term outlook for the cryptocurrency market has been “reinforced to the upside” following recent turmoil in the U.S. Credits: Smart India NewsĬoinbase’s petition comes at a time when the cryptocurrency industry is facing increasing scrutiny from regulators. Coinbase argued that if staking is subject to securities regulations, it would create unnecessary barriers to entry for new participants, limit innovation, and stifle the growth of the industry. The petition also highlighted the potential benefits of staking for the cryptocurrency industry, including improved network security and increased decentralization.

According to the petition, staking does not involve any promises of profits or guarantees of returns, and the rewards earned from staking are determined by market forces and the underlying protocol, rather than the efforts of a third party. Coinbase also argued that staking is fundamentally different from other forms of investments that are subject to securities regulations, such as stocks and bonds.

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