Cryptocurrency Analysis and News Portal
The latest price moves in bitcoin (BTC) and crypto markets in context for Feb. 10, 2023. First Mover is CryptoX’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
Read More
United States Securities and Exchange Commission chair Gary Gensler issued a warning to crypto companies to “come in and follow the law” after the agency announced a settlement with crypto exchange Kraken.Appearing on CNBC’s ‘Squawk Box’ on Feb. 10, Gensler said crypto exchanges should register with the SEC in order
Read More
“330 million Americans are our clients,” Gensler replied. “Kraken knew how to register, others know how to register, it's just a form on our website… And if they want to offer staking, we're neutral, come in register because investors need that disclosure.” Source
Read More
Lido and Rocket Pool didn’t immediately see a massive rush in of capital after Kraken announced it had settled with the SEC. Source
Read More
Bitcoin (BTC) fell to bearish target zones on Feb. 10 as bulls failed to hold important support above $22,000.BTC/USD 1-day candle chart (Bitstamp). Source: TradingViewCrypto wipeout mounts as BTC price loses $22,000Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping to $21,633 on Bitstamp.The pair reacted badly to regulatory
Read More
United States Securities and Exchange Commission (SEC) commissioner Hester Pierce has publicly rebuked her own agency over the shut down of Kraken's crypto staking program in the United States. The commissioner blasted her regulator in a Feb. 9 statement called "Kraken Down," noting that regulation by enforcement “is not an efficient
Read More
Kraken, a U.S.-based cryptocurrency exchange, has agreed to wind down its cryptocurrency staking program as part of an arrangement with the U.S. Securities and Exchange Commission (SEC) to settle for the unregistered offer of its staking services. The exchange will also pay $30 million in disgorgement, prejudgment interest, and civil
Read More
Staking is the consensus mechanism to validate transactions for proof-of-stake blockchains, including Ethereum, which also offers a way for investors to earn yield on their digital asset holdings. However, the SEC has been vocal about its concerns that staking services are the equivalent of unregistered securities according to present regulations. Original
Read More
Cryptocurrency exchange Kraken has reached an agreement with the United States Securities and Exchange Commission to stop offering staking services or programs.In a Feb. 9 announcement, the SEC said it had charged Kraken with “failing to register the offer and sale of their crypto asset staking-as-a-service program,” which the commission
Read More
“Whether it’s through staking-as-a-service, lending, or other means, crypto intermediaries, when offering investment contracts in exchange for investors’ tokens, need to provide the proper disclosures and safeguards required by our securities laws,” said SEC Chair Gary Gensler. “Today’s action should make clear to the marketplace that staking-as-a-service providers must register
Read More