Is staking at stake?

Published Feb 9, 2023
By Qredo Team

Qredo’s daily briefing gives you the visibility you need of the ever changing world of crypto to help you make the best decisions and reach your financial goals. 

Coinbase’s CEO, Brian Armstrong, cites rumours that the U.S. Securities and Exchange Commision (SEC) may ban crypto staking for retail investors. In a tweet published on Feb. 8, Armstrong added, “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.” Armstrong didn’t elaborate on the origin of these rumours. Meanwhile, Kraken faces an SEC probe with a possible settlement in the near future.

Dubai has clarified rules for crypto companies that will attract crypto firms and firms and investors while curbing illegal activity. The Virtual Assets Regulatory Authority (VARA) has stated that the new regulations laid out will serve to promote Dubai as a hub for crypto businesses to compete with other crypto havens.

Elsewhere, Deutsche Bank’s DWS remains bullish on the space, as it eyes two German crypto firms for investment. A Feb. 8 Bloomberg report stated that Deutsche Bank’s asset management arm is currently in talks with Deutsche Digital Assets and Tradias. Germany ranks among the most favorable crypto economies, with tax laws that benefit long-term crypto holders.

In Bitcoin news, Australian computer scientist Craig Wright has lost his copyright claim on the Bitcoin white paper in the UK. Wright had claimed to be the author of the Bitcoin white paper working under the pseudonym, Satishi Nakamoto. Judge James Mellor, who presided over the hearing, said that the file format of Bitcoin cannot be treated as literary work as Wright couldn’t prove how they were first recorded. This is a copyright law test known as fixation.

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