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Coinbase Suspends Algorand Staking Rewards Amid SEC Crackdown

1y ago
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  • Coinbase has made a rapid decision to halt offering Algorand staking rewards.
  • The exchange has not given a reason for its action, but Algorand’s CEO has offered an explanation.
  • Coinbase is under increased pressure from the SEC, especially regarding its staking services.

Crypto staking rewards are becoming a controversial topic, especially in the U.S. The Securities and Exchange Commission (SEC) has clamped down on Kraken for its staking services, and now other exchanges are looking to be proactive to avoid the regulator’s ire.

On Wednesday, March 22, Coinbase announced it would no longer offer Algorand token rewards as of Match 29th. While there is no direct explanation for the decision...


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1y ago
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