<p><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDIvZjcxMmYxODQtNjRjOC00YjFkLWFhNDAtMDg0YmE1YjIwN2EyLmpwZw==.jpg"></p><p>Coinbase executives claim that staking is not a security under the US Securities Act or Howey test.</p>