‘A Paternalistic and Lazy Regulator’: What the SEC-Kraken Staking Settlement Means for Crypto
The Breakdown
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Ethereum FUD
The SEC tried to have the Hinman letter thrown out as not representing their official position. We need to make sure that new technologies are encouraged to grow in the US and not stifled by lack of clear rules. When it comes to financial services in web 3, it's a matter of national security that these capabilities be built out in the US. Regulation by enforcement doesn't work. It encourages companies to operate offshore which is what happened with FTX. Hopefully, we can work together to publish clear rules for the industry and come up with sensible solutions"
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