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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
“Kraken not only offered investors outsized returns untethered to any economic realities, but also retained the right to pay them no returns at all,” said Gurbir Grewal. Go to Source Powered by WPeMatico
Banks are allegedly being discouraged from offering services to the crypto industry by United States authorities. Go to Source Powered by WPeMatico
Brian Armstrong, CEO of Coinbase, expressed concern about rumors that the U.S. Securities and Exchange Commission (SEC) may eliminate cryptocurrency staking for retail customers in the United States. Armstrong insisted that “staking is not a security” and that the trend allows users to “participate directly in running open crypto networks.” Coinbase CEO Vocalizes Worry Over … Read more