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Coinbase CEO Brian Armstrong said on Twitter that he heard rumors that "the SEC would like to get rid of crypto staking in the U.S. for retail customers".
Brian Armstrong said, "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. Staking is a really important innovation in crypto. It allows users to participate directly in running open crypto networks. Staking brings many positive improvements to the space, including scalability, increased security, and reduced carbon footprints."
"We need to make sure that new technologies are encouraged to grow in the US, and not stifled by lack of clear rules. Regulation by enforcement doesn't work. It encourages companies to operate offshore, which is what happened with FTX. Hopefully we can work together to publish clear rules for the industry, and come up with sensible solutions that protect consumers while preserving innovation and national security interests in the U.S."
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