SEC

Crypto exchange Kraken is ending its crypto staking services for U.S. clients and paying a $30 million fine in a settlement with the U.S. Securities and Exchange Commission (SEC). Jaydeep Korde, founder and CEO of non-custodial Ethereum staking services provider Launchnodes, discusses what this means for his business operations and the crypto industry at large.

13 feb 2023

Bitcoin slipped below $22,000 as stablecoin issuer Paxos announced the company would stop minting new Binance USD (BUSD) tokens at the direction of the New York Department of Financial Services (NYDFS). This comes after a report of the threat of legal action from the U.S. Securities and Exchange Commission (SEC). Tastycrypto Head of Digital Assets Ryan Grace discusses how this will impact the market sentiment.

13 feb 2023

Door Nathaniel Whittemore11 feb 2023

Bitcoin (BTC) is trading below $22,000 as traders react to Kraken shuttering its crypto staking-as-a-service platform for U.S. customers and the crypto exchange's $30 million settlement with the SEC. CoinDesk Crypto Markets Analyst Glenn Williams Jr. shares his markets analysis as the largest cryptocurrency by market capitalization has fallen roughly 7% in the last week.

10 feb 2023

Crypto exchange Kraken will pay a $30 million settlement fine to the U.S. Securities and Exchange Commission (SEC) and halt its staking service for U.S. customers. Former SEC Attorney and Ketsal partner Zachary Fallon says the agency's enforcement action shows the SEC's "increasing focus on intermediaries in this space."

10 feb 2023

PayPal (PYPL) held a total of $604 million of bitcoin (BTC), ether (ETH), litecoin (LTC) and bitcoin cash (BCH) for its customers as of Dec. 31, according to its annual report to the U.S. Securities and Exchange Commission (SEC). The payments company has been allowing customers to buy and sell crypto since October 2020, though it has only recently begun to disclose specific holdings of different coins in its SEC filings. "The Hash" panel discusses what this means for PayPal's crypto ambitions.

10 feb 2023

U.S. Securities and Exchange Commission Chair Gary Gensler joined CNBC's "Squawk Box," warning other platforms to "take note" of crypto exchange Kraken's move to halt its staking service in the country and cough up a $30 million fine. This comes as SEC Commissioner Hester Peirce said Friday that the SEC did not attempt to consult with the crypto industry before launching this week’s unregistered securities crackdown on staking-as-a-service. "The Hash" panel discusses the latest developments surrounding U.S. crypto regulation.

10 feb 2023

Door Adrian Blust, Adam B. Levine10 feb 2023

Crypto exchange Kraken will end its U.S. crypto-staking service and pay a $30 million fine to settle with the U.S. Securities and Exchange Commission (SEC). Former SEC Attorney and Ketsal partner Zachary Fallon weighs in on the developments, noting this is not a condemnation of staking at large, where users can validate transitions on a proof-of-work chain.

10 feb 2023

Kraken is shuttering its crypto staking-as-a-service platform for U.S. customers and will pay $30 million to settle SEC charges it offered unregistered securities. In a blog post, Kraken said it would automatically unstake any assets staked by U.S. clients except for staked ether, which won't be unstaked until after the Ethereum Network's Shanghai upgrade takes effect. Ketsal partner and former SEC Attorney Zachary Fallon discusses what this could mean for the future of SEC enforcement actions over the crypto industry.

10 feb 2023