‘A Paternalistic and Lazy Regulator’: What the SEC-Kraken Staking Settlement Means for Crypto
The Breakdown
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Cryptocurrency Staking as a Service Platform
On Thursday afternoon, the SEC did indeed announce a settlement with Kraken. Under the terms of the agreement, Kraken would immediately end its crypto staking as a service platform and pay a fine of $30 million to settle charges of offering on registered securities. "This is a big umbrella and that we need to deal with it in its complexity not in its generality," says CoinCenter's Peter van Volkenberg.
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