Coin Edition -
- Charles Hoskinson maintains that staking ETH looks like regulated products.
- Cardano founder believes locking funds and centralization hurts the crypto industry.
- Coinbase (NASDAQ:COIN) CEO stands against the SEC’s supposed intention to ban crypto staking.
Charles Hoskinson, the Cardano network founder, reinforces his earlier argument that the new Ethereum staking protocol looks “a lot like regulated products,” taking sides with the US Securities and Exchange Commission (SEC).
In a video shared on Twitter today, Hoskinson argued that even if Cardano, Polkadot, Ethereum, and Avalanche, are all staking systems, they all have different modes of operation that may translate to varying regulatory overhead.
Staking and Regulation https://t.co/gEIuDzTUjj— Charles Hoskinson (@IOHK_Charles) February 9, 2023
The Cardano founder believes temporarily giving up assets to another party to do some work on a person’s behalf to generate revenue, as in the case of Ethereum looks like regulated products.
However, Hoskinson noted that Bitcoin and Cardano staking models are markedly different. He expressed that the custody of the underlying asset in Bitcoin is the hash resources…
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