Former CFTC Chairman Speaks About SEC! The Threat For Altcoins Continues?

of the SEC of kraken stop staking services of bitcoin Although it did not cause a decrease in the price, it did raise regulatory concerns.

The lack of a clear framework for cryptocurrencies and the services offered through them, and the lack of regulatory clarity on what is a security and what is not, continues to be criticized by the SEC.

Speaking at the Taiwan Fintech Association conference today, Timothy Massad, former chairman of the US Commodity Futures Trading Commission (CFTC), made statements about the SEC’s recent actions on cryptocurrencies.

Expressing that there is a difference between Kraken’s staking service and the staking services of other platforms, the president said that more regulatory clarity should come from the SEC for cryptocurrencies, and we will wait and see.

The President’s statements are as follows:

“Kraken’s staking service was very clearly an investment contract and it fits that description. Which explains why the SEC took action.

Kraken’s staking service and the service offered on other platforms are quite different. However, we do not currently know whether the SEC took this action because of the features offered in Kraken or the first step in a broader attack on the staking service.

We will have to wait and see if the SEC will allow what kind of services and what kind of cryptocurrencies.”

Altcoin investors will continue to roam the minefield as the SEC does not provide the necessary clarity for altcoins.