Armstrong Responds to Grewal’s Comment: SEC Settles Kraken Case By CoinEdition

• Brian Armstrong responded to Paul Grewal’s comment on the former’s post.
• Armstrong previously posted about the rumors on SEC’s settlement with Kraken.
• Following the tweet, SEC settled the case and Grewal responded that Armstrong’s concerns were right.

Brian Armstrong, the co-founder, and CEO of Coinbase (NASDAQ:) Global Inc, the American-based publicly traded cryptocurrency exchange tweeted in response to the comment of the company’s Chief Legal Officer, Paul Grewal, on the former’s post on SEC’s settlement with Kraken.

Armstrong tweeted “well said”, referring to Grewal’s comment, claiming that “true on-chain staking services like ours are fundamentally different”:

Well said. “True on-chain staking services like ours are fundamentally different” https://t.co/3bd7twL9nV

— Brian Armstrong (@brian_armstrong) February 11, 2023

Notably, the US Securities and Exchange Commission’s (SEC) alleged Kraken, the US-based crypto exchange for not registering “the offer and sale of their crypto-asset staking-as-a-service program”.

However, on February 10, the SEC declared that it has settled the case by Kraken ceasing the sale of “securities th…

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