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The crypto world was jolted last week when the Securities and Exchange Commission (SEC) shut down Kraken’s staking program, much to the satisfaction of Chairman Gary Gensler and his team. But what does this mean for the future of cryptocurrency and, more specifically, staking? The following opinion editorial was written by Bitcoin.com’s Business Development Manager … Read more
On Feb. 9, 2023, the cryptocurrency community learned of the U.S. Securities and Exchange Commission’s (SEC) crackdown on staking services. The SEC fined Kraken, a cryptocurrency exchange, $30 million for offering an “unregistered offering” related to its U.S. staking service. Digital currency advocates are now debating what constitutes a yield product versus a noncustodial solution … Read more
The SEC’s move to ban staking is going to encourage more people to move toward decentralized options beyond the agency’s reach. Go to Source Powered by WPeMatico
The CEO of crypto exchange Kraken, Jesse Powell, has called on Congress to pass a law to protect the U.S. crypto industry after the Securities and Exchange Commission (SEC) took action against his trading platform over its crypto staking service. Kraken’s CEO Responds to SEC Action Kraken CEO Jesse Powell urged Congress to pass a … Read more
“The timing of the charges and his arrest raise serious questions about the SEC’s process and cooperation with the Department of Justice,” said Representatives McHenry and Huizenga. Go to Source Powered by WPeMatico
“Don’t have your hand in the customer’s pocket, using their funds for your own platform,” Gary Gensler said to companies that needed to register with the SEC. Go to Source Powered by WPeMatico
Panic over regulatory enforcement sees Bitcoin and altcoins give up recent gains, costing long traders over a quarter of a billion dollars in a single day. Go to Source Powered by WPeMatico
Ethereum may experience a drop in user activity alongside ETH price with crypto staking in the crosshairs of the SEC. Go to Source Powered by WPeMatico
The ConsenSys founder and Ethereum co-founder said it’s as unlikely as ride-sharing service Uber becoming illegal. Go to Source Powered by WPeMatico
Kraken, a U.S.-based cryptocurrency exchange, has agreed to wind down its cryptocurrency staking program as part of an arrangement with the U.S. Securities and Exchange Commission (SEC) to settle for the unregistered offer of its staking services. The exchange will also pay $30 million in disgorgement, prejudgment interest, and civil penalties, as indicated by the … Read more
