based on materials from the site - By AICryptocore.com
Coinbase claims that the actions of the states contradict the goals of federal legislation, increasing regulatory uncertainty in the cryptocurrency market.
Public statements by Paul Grewal
In public statements, Paul Grewal claims that government agencies are ignoring the CLARITY law, which excludes staking from being labeled as a securities service. These ongoing repressions challenge legislation supported by both parties in Congress.
"Many government agencies are ignoring an important aspect of the recently passed CLARITY law, which clearly states that staking as a service is not considered a security." — Paul Grewal, Chief Legal Officer of Coinbase
Coinbase's leadership, including Paul Grewal, disputes the actions of the states, highlighting the differences between the CLARITY law and the recent repressions enacted by the states. Grewal's previous experience as a U.S. District Judge supports this position.
Regulatory measures have led to a reduction in the inflow of funds for staking and the overall locked value, primarily affecting assets such as Ethereum (ETH), Solana (SOL), and Cardano (ADA). These assets are also potentially susceptible to the uncertainty associated with staking services.
Existing precedents indicate that these measures may cause temporary price volatility in assets. The market may continue to fragment until a consistent approach to cryptocurrency regulation is established. David Plouffe has been engaged to strengthen ties with the government in order to effectively navigate the escalating tensions in the regulatory landscape.
Market implications and outlook
Historically, tokens related to staking have been volatile during periods of such measures. Market participants, including developers and users, are closely monitoring these regulatory trends. Recent FDIC updates regarding financial institution regulation suggest that increased regulatory transparency could impact the long-term stability of the cryptocurrency market.
$BTC , $XRP , $BNB
#Сryptomarketnews , #TrumpTariffs
Here, in one news feed, we gather and publish the freshest news from more than a dozen news sites and printed publications regarding changes in the cryptocurrency market and global financial changes!!!
We do not provide recommendations or financial advice! We introduce readers to the news of the financial world! Conclusions and decisions are made independently by each individual!!!
Welcome to us! There's enough news for everyone!!! 😉
