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SEC's crypto staking crackdown has uncertain consequences for DeFi: Lido Finance

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Lido DAO member, Jacob Blish, raised alarm bells over DeFi’s possible future if the SEC limits or bans US citizens from interacting with crypto staking services.

"The most disappointing thing is we as an industry keep getting asked for transparency, but then me as a U.S. citizen, I get no transparency and how [regulator's] decision-making process is going."

On Feb. 9 the SEC charged crypto exchange Kraken with"failing to register the offer and sale of their crypto-asset staking-as-a-service program" prompting the exchange toI honestly hope that somebody proves, in court, that there is a legal, user-friendly version of custodial staking that can be offered to US consumers. It’ll be a brutal, lengthy, expensive fight and a massive distraction but the industry and the USA will be extremely grateful.

 

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I'm sure the SEC will be just as successful at taking down DeFi as they have been with crypto staking. 🙄

Let's join the lottery project on the genuine and extremely transparent Polygon megamoon megamoonlottery

Everything the SEC's doing just make us more Bullish on Bitcoin and Defi

Cannot control how much ever they try.

well

SEC just scams to scare peoples and they raise money.

Don't panic DeFi enthusiasts! We'll just stash our crypto in offshore accounts and pretend we're international jet-setters 💰🛩️

Biggest Crypto Staker Warns on DeFi Challenges After SEC’s Kraken Crack Down

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