{"id":550369,"date":"2023-02-10T18:30:00","date_gmt":"2023-02-10T15:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sec-chair-issues-warning-to-crypto-firms-after-action-on-kraken-staking\/"},"modified":"2023-02-10T18:30:00","modified_gmt":"2023-02-10T15:30:00","slug":"sec-chair-issues-warning-to-crypto-firms-after-action-on-kraken-staking","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sec-chair-issues-warning-to-crypto-firms-after-action-on-kraken-staking\/","title":{"rendered":"# SEC chair issues warning to crypto firms after action on Kraken staking"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3eba978db09\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3eba978db09\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/sec-chair-issues-warning-to-crypto-firms-after-action-on-kraken-staking\/#%E2%80%9D_SEC_chair_issues_warning_to_crypto_firms_after_action_on_Kraken_staking_%E2%80%9C\" >&#8221; SEC chair issues warning to crypto firms after action on Kraken staking &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_SEC_chair_issues_warning_to_crypto_firms_after_action_on_Kraken_staking_%E2%80%9C\"><\/span>&#8221; SEC chair issues warning to crypto firms after action on Kraken staking &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDIvNmViNDY0MjMtNTZkYy00NDYxLTk1ZjgtNzU4NmYxM2JhNDU2LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4bbf85c5>United States Securities and Exchange Commission chair Gary Gensler issued a warning to crypto companies to \u201ccome in and follow the law\u201d after the agency announced a settlement with crypto exchange Kraken.<\/p>\n<p><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">App<\/a>earing on CNBC\u2019s \u2018Squawk Box\u2019 on Feb. 10, Gensler <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1624041483241156608\">said<\/a> crypto exchanges should register with the SEC in order to be compliant with regulations in the United States, claiming that many within the industry were \u201cchoosing\u201d not to do so. According to the SEC chair, the business models of many crypto projects were \u201crife with conflict,\u201d claiming they needed to \u201cdisentangle\u201d bundled products. <\/p>\n<p>&#8220;If this field has any chance of survival and success, it\u2019s time-tested rules and laws to protect the investing public,&#8221; said Gensler. \u201cDon\u2019t have your hand in the customer\u2019s pocket, using their funds for your own platform.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">&#8220;The storefronts and casinos people are investing in need to comply and disentangle bundled products. The business model is rife with conflicts,&#8221; says SEC Chair <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/GaryGensler?ref_src=twsrc%5Etfw\">@GaryGensler<\/a> on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#crypto<\/a>. &#8220;If this field has a chance of survival, it needs laws to protect the investing public.&#8221; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/FGRrYE1Aov\">pic.twitter.com\/FGRrYE1Aov<\/a><\/p>\n<p>\u2014 Squawk Box (@SquawkCNBC) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1624041483241156608?ref_src=twsrc%5Etfw\">February 10, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Gensler\u2019s statement followed the SEC announcing it had reached a settlement with Kraken in which the exchange agreed to shut down its staking services and programs for U.S. customers as well as pay $30 million in disgorgement, prejudgment interest and civil penalties. Kraken said it would continue to offer staking services for non-U.S. users through a separate subsidiary.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Community urges Coinbase to relist XRP as CEO fights for staking<\/em><\/strong><\/p>\n<p>Many have criticized the SEC settlement as regulators taking action against firms that need to navigate a regulatory space without clear guidelines. SEC commissioner Hester Peirce called the SEC\u2019s actions \u201clazy and paternalistic\u201d, saying the staking program had \u201cserved people well.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/sec-chair-issues-warning-to-crypto-firms-after-action-on-kraken-staking\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; SEC chair issues warning to crypto firms after action on Kraken staking &#8220; United States Securities and Exchange Commission chair Gary Gensler issued a warning to crypto companies to \u201ccome in and follow the law\u201d after the agency announced a settlement with crypto exchange Kraken. Appearing on CNBC\u2019s \u2018Squawk Box\u2019 on Feb. 10, Gensler&#8230;<\/p>\n","protected":false},"author":1,"featured_media":550370,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/6eb46423-56dc-4461-95f8-7586f13ba456.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75540,74898,133582,70934,67874],"class_list":["post-550369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-kraken","tag-sec","tag-staking","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/550369","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=550369"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/550369\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/550370"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=550369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=550369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=550369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}