Tag Archives: sec

Jacob Blish, the head of business development at Lido DAO, the decentralized autonomous organization behind the largest liquid staking protocol, believes the recent SEC crackdown on crypto staking services could cause new challenges for decentralized finance (DeFi). According to a Bloomberg report, Blish opined that the state of crypto staking in the U.S. depends on the Securities and Exchange Commission’s (SEC) final resolution. SEC Crackdown on Staking Could Affect DeFi...

The US-based blockchain infrastructure platform – Paxos Trust Company – will stop the issuance of new Binance stablecoins (BUSD) from February 21.  Despite this, the firm said it has a “strong corporate balance sheet” and vowed to continue servicing new and existing clients. Ending the Relationship With Binance As directed by the New York State Department of Financial Services (NYDFS), Paxos will halt minting new BUSD tokens next week (February 21). However, the entity will...

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All eyes in the crypto community have been on the SEC and its decision to pursue certain crypto staking offerings in the States. After Kraken, many believe Coinbase will be next to have to settle with the regulator, which is why the largest US-based exchange decided to address the matter. Our Products Are Not Securities: Coinbase The exchange’s Chief Legal Officer, Paul Grewal, asserted in the blog post that the company’s staking services do not meet the Howey test criteria,...

Brad Garlinghouse, the CEO of the blockchain payment company that fights the US SEC in court over the status of XRP, believes there’s a lot of positive news in terms of crypto adoption worldwide. He made these comments following the recent crackdown from the Securities and Exchange Commission against Kraken and its crypto staking services. Step Back and Review Being the world’s largest economy, the actions undertaken by the US, its government, and the local regulatory bodies...

Following the Securities and Exchange Commission (SEC)’s crackdown against Kraken’s staking service on Thursday, one of its members is railing against her agency’s decision.  Hester Peirce – aka ‘Crypto Mom’ – issued a statement on Wednesday arguing that the SEC’s enforcement action is neither “efficient nor fair,” and that exchanges were never given a realistic pathway to registration, to begin with.  The SEC’s Enforcement Style  According to Peirce, the fundamental question...

On Feb. 9, Gary Gensler and his SEC took aim at Kraken and its staking-as-a-service products. The regulator claims that the U.S. crypto exchange is offering unregistered securities through its staking services. Consequently, Kraken suspended staking-as-a-service, and crypto markets have slumped. On Feb. 10, popular analyst and trader Alex Krüger put a positive spin on the latest regulatory crackdown by Uncle Sam. He said that a ban on staking, which the SEC is angling for,...

Kraken’s generated trading volume for the past 24 hours increased by almost 15%. The surge contrasts with the company’s issues prompted by the recent SEC investigation and the consecutive termination of staking services. Data extracted from CoinMarketCap and CoinGecko revealed that Kraken’s 24h trading volume stands at around $757 million, or a 14% increase. Based on numerous factors, including average liquidity, volume, and Web traffic, the company collects a score of 7.4...