US Crypto Staking Crackdown Seen as ‘Huge Gift’ for Decentralized Services
By Muyao Shen and Olga Kharif
As crypto exchanges are facing potential bans on staking services, decentralized platforms are poised to gain more market share in the crypto space.
The US-based exchange Kraken agreed Thursday to pay $30 million to settle SEC allegations that its crypto staking products broke rules. The platform will discontinue the products in the US as part of the agreement with the regulator. The SEC alleged that Kraken’s staking service was an illegal sale of securities.
Read the rest of the article on Bloomberg here.