Kraken CEO Calls on Congress to Protect US Crypto Industry Following Settlement With SEC Over Staking Program
The CEO of crypto exchange Kraken, Jesse Powell, has called on Congress to pass a law to protect the U.S. crypto industry after the Securities and Exchange Commission took action against his trading platform over its crypto staking service.Kraken CEO Jesse Powell urged Congress to pass a law to protect the domestic crypto industry on Thursday after the U.S. Securities and Exchange Commission charged his crypto trading platform over its staking service.
Following the securities watchdog’s enforcement action over Kraken’s staking program, SEC Commissioner Hester Peirce issued adisagreeing and dissenting from her agency’s action. “A paternalistic and lazy regulator settles on a solution like the one in this settlement: do not initiate a public process to develop a workable registration process that provides valuable information to investors, just shut it down,” she wrote.
Responding to Commissioner Peirce’s statement, Powell tweeted, “Some guidance would be appreciated.” He added that the SEC’s approach of “This is wrong but I won’t tell you how to do it right. Want to find out if X works? Try it and see what happens” does not help the crypto industry or consumers. “We aren’t anti-regulation but we need a clear path to operate,” he stressed.
The SEC only trying to save the value of the dollar because they are threatened and can't compete with crypto
OWNR wallet needs to implement staking asap
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Bitcoin& broader Crypto currencies & DigitalAssets like NFTs offer financial investment opportunities for all people, not just the 'chosen' few eg 'credited investors' in the 'rigged' stock markets so fu SEC & GaryGensler Bitcoin
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Naw we don’t want exchanges to offer staking services or CeFi is alright
The question is, is anyone in Congress listening .
Gensler is wrecking the industry for the US. It's a big world out there, talent & ideas can & will go elsewhere.
It's great to see the CEO taking action to protect the US crypto industry. DeFi is already transforming the financial landscape and I'm excited for what the future holds!
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