of the US Securities and Exchange Commission (SEC) His harsh attitude and sanctions against crypto money projects and exchanges continue.
The leading crypto exchange is the latest victim of the SEC’s harsh stance. Kraken it happened.
SEC suing Kraken, exchange as a Service Your Crypto Asset Staking Programand asked for reference to the sale of unregistered securities.
of the SEC cryptocurrency criticizes its approach and moves towards the sector at every opportunity. SEC member Hester PeirceHe also expressed opposition to the SEC’s action against Kraken.
Noting the lack of regulatory clarity in the crypto industry, Hester Peirce urged the SEC to bring regulatory clarity to its industry, noting that this makes it unclear which crypto companies should register with the SEC.
Crypto Mom Peirce, also known by his nickname, pointed out that crypto staking programs have been in the market for a very long time, cryptocurrency He stated that it is not clear whether the exchange should register the entire staking program or separately for the staking of tokens.
Stating that the SEC is late in its guidance on crypto staking products, Peirce said that regulation through enforcement is not the right approach:
“We have known for a long time that crypto staking programs exist.
Rather than opting for sanctions against staking programs, it would be better for staking-as-a-service providers to register and not provide full, fair and accurate disclosure and investor protection.
Because using sanctions to tell people what the law is in a developing industry is not an effective or fair way of regulation.”
Crypto Mom said that the most worrying part of the SEC’s solution to this issue is the complete shutdown of an exchange program that has served people well.
Because Kraken’s staking program will no longer be available in the US and Krakenregistered or not, will not be able to offer a staking service in the USA.
In this respect Brian Armstrong, CEO of Coinbase He also warned that the SEC has plans to ban crypto staking programs.
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