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Coinbase Under SEC Scrutiny Over Its Crypto-Staking Programs

  • Staking is key source of non-trading revenue for the exchange
  • Company is ‘committed to productive discussion with the SEC’
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Photographer: Tiffany Hagler-Geard/Bloomberg
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Coinbase Global Inc. said it’s being probed by the US Securities and Exchange Commission over its staking programs, which allow users to earn rewards for holding certain cryptocurrencies. 

The company “has received investigative subpoenas and requests from the SEC for documents and information about certain customer programs, operations and existing and intended future products,” according to a quarterly regulatory filing. The requests relate to Coinbase’s staking programs, asset-listing process, classification of assets and stablecoin products, the company said.