South Korea planning to review local staking services

South Korea’s financial regulators are planning to review local staking services, according to Forkast News.

The country cited the recent contradiction between the U.S. Securities and Exchange Commission (SEC) and the crypto exchange Kraken, as Forkast News reported.

South Korea didn’t disclose a timeline for the review.

At the beginning of the month, the SEC charged Kraken for violating the regulations since the exchange didn’t register its staking service as a security offering. Upon this, Kraken suspended its staking services for its users residing in the U.S.

Commenting on this news, Coinbase CEO Brian Armstrong said that the SEC might want to “get rid of” crypto staking. Armstrong stated:

“We’re hearing rumors that the SEC would like to get rid of crypto staking in the U.S. for retail customers. I hope that’s not the case as I believe it would be a terrible path for the U.S. if that was allowed to happen.”

Posted In: , , Regulation
Bookmark (0)

Related Posts

Crypto twitter turns Greenpeace’s attempt to vilify BTC via art piece into meme

Crypto twitter turns Greenpeace’s attempt to vilify BTC via art piece into meme

The Skull of Satoshi is the latest in Greenpeace’s now year-long “Change the code” campaign to vilify Bitcoin by painting it as an environmental hazard.

Bookmark (0)
Bitcoin cannot be stopped – Regulators will only be playing Whack-a-Mole: Caitlin Long

Bitcoin cannot be stopped – Regulators will only be playing Whack-a-Mole: Caitlin Long

Caitlin Long says Operation Chokepoint 2.0 is real, but stifling the U.S. crypto industry will bring other problems down the line.

Bookmark (0)
Nasdaq to launch crypto custody service for BTC, ETH in 2023 to inaugurate digital assets arm

Nasdaq to launch crypto custody service for BTC, ETH in 2023 to inaugurate digital assets arm

Nasdaq is the latest traditional financial giant to pivot toward crypto — joining the ranks of Fidelity Investments, BNY Mellon and BlackRock.

Bookmark (0)
Over 300M Arbitrum ARB tokens claimed; price plunges 90%

Over 300M Arbitrum ARB tokens claimed; price plunges 90%

Nansen’s dashboard shows that more than 160,000 addresses have claimed over 300 million ARB tokens as of press time.

Bookmark (0)
Centi launches CHF stablecoin backed 1:1 by a Swiss bank

Centi launches CHF stablecoin backed 1:1 by a Swiss bank

Centi said that the Centi Franc Stablecoin will serve as the “basis” for its blockchain-based Global Payment Network.

Bookmark (0)

Sports Prediction App ‘Pooky’ Launches Full Version of Its Play-and-Earn Game

Bookmark (0)

Leave a Reply

Your email address will not be published. Required fields are marked *