The discussion of the SEC vs Kraken conflict over crypto staking offerings turned into support for Ripple’s native coin XRP.
On 10 Feb the United States Securities and Exchange Commission (SEC) announced that the agency fined $30 million to the Kraken crypto exchange over crypto staking services, which was unregistered securities.
Coinbase CEO Brian Armstrong responded on this matter and said that the exchange will always remain active to oppose government rulings when it comes to protecting services like staking. He also noted that government authorities are not showing interest in creating a framework for the staking services.
The crypto community responded to the Coinbase CEO’s statement and asked why Coinbase is staying away from XRP coin despite Coinbase supporting economic freedom ambitions.
A Crypto Twitter user criticised Coinbase exchange over its approach to delisting XRP coin trading from the exchange but still claiming to protect customers from the government.
Another Crypto Twitter user said that if Coinbase wants to show that it is standing with the customers against the US SEC then it should relist the XRP coin because this coin is still not proven security.
Recently the LBRY Credits (LBC) tokens team won its case against the US SEC and successfully proved that LBC token sales were not subject to any securities law and also LBC token is a non-security digital asset.
On 2 Feb, the LBRY token team suggested Coinbase relist the XRP coin. According to the LBRY team, XRP token is a non-security asset under its review.
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