SEC’s Hester Peirce Blasted Agency’s Attack on Kraken’s Crypto Staking Platform

According to the latest reports, the attack that SEC deployed over Kraken is not without echo. Check out the latest info about the matter below.

SEC Commissioner Hester Peirce is blasting the agency’s decision to attack the crypto exchange Kraken. They have been forcing the company to eliminate its staking program and pay a $30 million fine.

In an official letter of dissent, Peirce says the SEC’s repeated attempts to regulate the industry via enforcement are bad for the average American investor.

“Today, the SEC shut down Kraken’s staking program and counted it as a win for investors. I disagree and therefore dissent…”

She continued and said the following:

“Instead of taking the path of thinking through staking programs and issuing guidance, we again chose to speak through an enforcement action, purporting to ‘make clear to the marketplace that staking-as-a-service providers must register and provide full, fair, and truthful disclosure and investor protection.’”

She also said this:

“[1] Using enforcement actions to tell people what the law is in an emerging industry is not an efficient or fair way of regulating. [2] Moreover, staking services are not uniform, so one-off enforcement actions and cookie-cutter analysis does not cut it.”

We suggest that you check out the complete article in order to learn new details about all this.

Popular crypto strategist Michaël van de Poppe believes that Bitcoin (BTC) is gearing up for a burst to the upside as it now trades above a key level.

Van de Poppe said that traders who are betting against the king crypto might provide the necessary fuel for a rally toward his target of $28,000.

“People properly eagerly start to short, so cracking $23,200 is inevitably continuation towards $26,000-$28,000 on the charts.”

The other day, we were saying that there is a rise in negative sentiment on Bitcoin (BTC), and the crypto markets at large is increasing the odds that the 2023 bull run will continue, according to a leading analytics firm.