Coinbase Chief Legal Officer: Coinbase's staking product is fundamentally different from Kraken

According to Cointelegraph, Coinbase Chief Legal Officer Paul Grewal said in response to shareholders' questions about its staking services during the Q&A session of the fourth quarter results, "The staking product we offer on Coinbase is not the same as the income product described in the regulatory action against Kraken. There are fundamental differences. The first difference is that Coinbase users retain ownership of their cryptocurrencies at all times. Another difference is that customers have the right to withdraw from staking, and the company cannot simply decide not to pay any withdrawals. Finally, As a public company, Coinbase enables customers to gain deep and transparent visibility into their financial situation.” In addition, Grewal reiterated his call for regulatory clarity on staking services in the U.S. “Rules that clarify these distinctions will provide very real clarity, and we think the public Federal court complaints should not have to be parsed in order to understand what regulators expect."