I've shared my thoughts on this platform on several occasions how strict regulatory policies have been a leading factor slowing down crypto adoption worldwide, it's no brainer for one to figure out that the elite ain't in favour of cryptocurrencies becoming dominant asset for investors, now the best means of making crypto space uninteresting is by imposing policies that will startled investors off the space.
will leading countries miss out on crypto?
Considering how things have been unfolding starting with China ban of bitcoin mining, Nigeria not recognising bitcoin and the bitcoin energy saga, Security Exchange Commission classifying what are security and non security tokens in the crypto space with more of this happening we can be rest assured a lot of countries will be missing out on what blockchain technology is offering to the world while other countries are gradually building their economy on the new emerging technology.
Its left for any country to either refrain or welcome crypto, plain truth is with or without those countries blockchain technology will likely here to stay.
US SEC hit kraken with $30 million fine.
US based client will no longer enjoy staking benefits from one of the leading exchange provider, citing the fourth largest exchange by trading volume have violated SEC laws for failing to register stake service as a service program and also not fully disclosing truth in staking and protecting investors.
The SEC today hit San Francisco-based cryptocurrency exchange Kraken with a $30 million fine for violating securities laws.
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Commissioner Hester Peirce, commented that SEC action was an irrational move against the exchange saying it's an inefficient way of regulating an emerging industry.
Other major concerns have been on ethereum Shanghai upgrade that will allow investors to unstake their staked ethereum will US SEC action affect the second largest cryptocurrency as Coinbase a US based exchange holds significant amounts of staked ethereum locked up in its wallet?
Theres more to regulatory issues that is yet to be looked into as we go further in this space.