Coinbase Chief Legal Officer: The staking products offered by Coinbase are fundamentally different from the yield products of Kraken

ChainCatcher news, according to Cointelegraph, Coinbase Chief Legal Officer Paul Grewal stated: "The staking products we offer on Coinbase are fundamentally different from the yield products described in the regulatory actions against Kraken. The differences are significant."

He pointed out that the first difference is that Coinbase users retain ownership of their cryptocurrency at all times. Coinbase stated in its updated user agreement on December 15, 2022, that it merely "facilitates the staking of these assets on behalf of users," but may not replace any Ethereum. The second difference is that customers have the "right to request to withdraw their stake," and the company cannot "simply decide not to pay any withdrawals." He noted that Coinbase being a publicly traded company is another key difference, which allows customers to "gain deep transparency into our financial condition." (source link)