Blockchain Association CEO calls on Congress to end SEC’s “attack” on the crypto industry
According to Kristin Smith, regulators are driving innovation offshore and taking away online freedoms from individual users
10.02.2023 - 13:15
332
2 min
0
Blockchain Association CEO Kristin Smith has released a statement on the U.S. Securities and Exchange Commission’s eradication of staking on the crypto exchange Kraken.
The Washington DC-based organization, which represents more than 100 crypto companies in a push to improve public policy for blockchain networks on Capitol Hill, says the SEC’s actions part of an ongoing attack on a nascent industry.
“The SEC continues its attack on US crypto companies and retail investors, regulating by enforcement and undercutting the potential of public blockchain networks in the United States.
Staking is an important part of the crypto ecosystem, allowing individuals to participate in decentralized networks and giving investors more options to earn passive income.”
The SEC charged Kraken with “failing to register the offer and sale of their crypto asset staking-as-a-service program Kraken staking, which allows crypto users to lock up their coins and take part in the blockchain validation process, in return for rewards.”
Kraken settled, paid a $30 million fine and agreed to immediately remove staking from its platform.
The Blockchain Association is calling on lawmakers in Congress to step in and prevent the crypto industry and its participants from moving offshore.
“Today’s settlement isn’t law, but is another example of why we need Congress – not regulators – to determine appropriate legislation for this new technology. Otherwise, the U.S. risks driving innovation offshore and taking online freedoms away from individual users.”
This material is taken from the website https://dailyhodl.com.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$98 573
BTC
+2.96%
-
Ethereum
$3 357.38
ETH
+8.68%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.37
XRP
+23.91%
-
Dogecoin
$0.391834
DOGE
+3.34%
-
Cardano
$0.867456
ADA
+10.95%
-
Bitcoin Cash
$493.96
BCH
+10.01%
-
Polkadot
$6.15
DOT
+10.26%
-
Stellar XLM
$0.281977
XLM
+16.82%
-
Litecoin
$89.94
LTC
+6.79%