SEC’s Gensler Warns Crypto Firms to Take Note of Kraken Case Over Staking – Bloomberg

The fallout from Kraken’s settlement with the SEC has quickly rippled across the industry with shares from Coinbase Global Inc., which also offers staking, tumbling on the news. Kraken agreed to pay $30 million to settle the allegations and to discontinue staking in the US.

“Other platforms should take note of this and seek to come into compliance, do the proper disclosures and registration and the like,” Gensler said on Friday in an interview on CNBC.

Gensler also repeated his warning to crypto trading platforms that he planned to hold them accountable if they don’t register with the agency. The runway for them to register and come into compliance with SEC rules is getting “awfully short,” he added.

Source: SEC’s Gensler Warns Crypto Firms to Take Note of Kraken Case Over Staking – Bloomberg