Kraken Fallout

‘Kraken Down’ — SEC commissioner rebukes own agency over recent action

"Today, the SEC shut down Kraken’s staking program and counted it as a win for investors. I disagree and therefore dissent," said Commissioner Hester Pierce.

Worth reading the whole withering statement.

Most concerning, though, is that our solution to a registration violation is to shut down entirely a program that has served people well. The program will no longer be available in the United States, and Kraken is enjoined from ever offering a staking service in the United States, registered or not. A paternalistic and lazy regulator settles on a solution like the one in this settlement: do not initiate a public process to develop a workable registration process that provides valuable information to investors, just shut it down.

Gary the Goose won't care; he's doing his job of crushing crypto for the average American.

And, is Pierce just playing good-cop bad-cop?

This also interesting:

Digital Asset Exchange EDX Markets Launches with Backing from Leading Broker-Dealers, Global Market Makers and Venture Capital Firms

https://edxmarkets.com/

Launched about 3 weeks before FTX collapsed. Also note, EDXM is not for the average retail customer, so move along, nothing to see, just the big boys doing business.

And... back to the reality for little people: Kraken move should put crypto industry 'on notice,' Gensler says.
Nice to see the Geeseler still racketeering for his masters.

I suspect he read Catch-22. If you don't comply, we whack you; if you try to comply, you can't, and we whack you.