Tag: Staking

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…

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Kraken to Discontinue Unregistered Offer and Sale of Crypto Asset Staking-As-A-Service Program and Pay $30 Million to Settle SEC Charges

The Securities and Exchange Commission today charged Payward Ventures, Inc. and Payward Trading Ltd., both commonly known as Kraken, with failing to register the offer and sale of their crypto asset staking-as-a-service program, whereby investors transfer crypto assets to Kraken for staking in exchange for advertised annual investment returns of as much as 21 percent. To settle the SEC’s charges,…

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Ether’s New ‘Staking’ Model Could Draw SEC Attention – WSJ

Ethereum’s big software update on Thursday may have turned the second-largest cryptocurrency into a security in the eyes of a top U.S. regulator. Securities and Exchange Commission Chairman Gary Gensler said Thursday that cryptocurrencies and intermediaries that allow holders to “stake” their coins might pass a key test used by courts to determine whether an asset is a security. Known…

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Coinbase Under SEC Scrutiny Over Its Crypto-Staking Programs – Bloomberg

Coinbase Global Inc. said it’s being probed by the US Securities and Exchange Commission over its staking programs, which allow users to earn rewards for holding certain cryptocurrencies. The company “has received investigative subpoenas and requests from the SEC for documents and information about certain customer programs, operations and existing and intended future products,” according to a quarterly regulatory filing.…

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