PHILADELPHIA – The U.S. Securities and Exchange Commission did not attempt to consult with the crypto industry before launching this week’s unregistered securities crackdown on staking-as-a-service, Commissioner Hester Peirce said Friday.top U.S. investments regulator’s lawsuit against Kraken crypto exchange
“We had not tried to sit down with people in the industry” to discuss staking, the process by which crypto holders delegate their tokens to validators in order to earn crypto rewards, Peirce said. She said the SEC has known about staking for a long time, and its decision to strike now was “arbitrary,” as was its targeting of Kraken’s staking business first."Yesterday’s decision basically said ‘let’s just shut it down.’ That can’t be the answer," the commissioner said.
SECGov HesterPeirce realDannyNelson Why isnt she fired yet? Or why hasnt she accomplished anything at the SEC for guidance in the crypto space? Seems like theyre playing good cop bad cop.
SECGov HesterPeirce realDannyNelson We’re all kraken ❤️
SECGov HesterPeirce realDannyNelson Interesting! I wonder what the implications might be of not consulting the crypto industry before such a decision. Could this mean new regulations are on the horizon?
SECGov HesterPeirce realDannyNelson What the ... is the crypto industry? Should have they consulted with exchanges like ftx?
SECGov HesterPeirce realDannyNelson A terrible look after meeting with Madoff 2.0 many times on the subject.
SECGov HesterPeirce realDannyNelson Coming up next: 'SEC did not consult with pyramid scheme industry before suing guy running pyramid scheme.'
SECGov HesterPeirce realDannyNelson “YOU BROKE THE LAW” “What law?” “I JUST MADE IT UP”
SECGov HesterPeirce realDannyNelson The SEC 'disgorged' $30M from Kraken. As long as this is allowed to happen under the current judicial environment, there's exactly 0 percent chance they have any reason to change how they do business. Everything is else is just word salad.
SECGov HesterPeirce Reporting live from PennBlockchain
SECGov HesterPeirce realDannyNelson They sure consulted a lot with SBF and FTX though... 🤔
SECGov HesterPeirce realDannyNelson sorry, 'crypto industry' maybe coindesk should have been looking at the lay of the land in their rotten 'space' rather than censoring intellectual history
SECGov HesterPeirce realDannyNelson Politicians are creating policy based on arbitrary nonsense and not consulting the professionals in the field. Shocker