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The SEC and several states argue that the product constitutes a unregistered security offering. Coinbase claims staking is not a security, maintaining that it is a "core part of ensuring the cryptoeconomy functions for hundreds of millions of users around the globe."
Calling staked coins "a security" might be considered an extreme compliment. Most POS tokens/coins are really just glorified Ponzi schemes, if we are really honest, is this correct or not?