One of the world-renowned crypto currency phenomena Alex Kruger In his post, he talked about the crypto sanction imposed by the SEC.
American Securities and Exchange Commission SEC Recently, the crypto exchange Kraken has been under the spotlight. The authority claimed that Kraken offers unregistered securities with its staking service.
Kraken is therefore all the staking had to suspend its activity. After the news spread, cryptocurrencies lost value.
Alex Krüger interpreted the staking sanction imposed by the SEC positively. According to the phenomenon, this will lead to the spread of staking activity concentrated in the USA to the whole world. Thus, Ethereum network will reach a more decentralized structure.
Positive narrative spin for later: banning US exchanges/custodians from offering staking services pushes staking offchain or abroad => ETH is no longer centralized and under the grasp of US regulators.
Decentralized ETH is better ETH.
— Alex Krüger (@krugermacro) February 9, 2023
“Banning US exchanges from providing staking services will push these activities on-chain or abroad. Thus, ETH will no longer be under the control of central US regulators.”
second largest cryptocurrency network Ethereum switched to the Proof-of-Stake system with the Merge update last year. Data that has emerged in recent weeks has shown that the majority of validators running the network through staking activity are subject to US regulation.
The crypto community is officially divided over the pros and cons of the proof-of-stake system after the data.
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