‘A Paternalistic and Lazy Regulator’: What the SEC-Kraken Staking Settlement Means for Crypto
The Breakdown
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The SEC Isn't Acting in a Proactive Way
The SEC thinks staking as a service is a security, Kraken didn't admit or deny that either way. It feels much more likely to me that a company like Coinbase has a bigger war chest and because of that potentially more appetite to fight. Jake Travinsky from the Blockchain Association writes, settlements are not law. They're a decision that the economics of settling are better than fighting no more.
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