Has the SEC attack on staking sparked a selloff on Bitcoin and ETH?
Bitcoin and ETH sentiment has taken one of its largest setback for the year and its only mid February.
Rumors began circulating after a Fox journalist and Coinbase CEO tweeted about a potential big announcement coming from the U.S. Securities and Exchange Commission (SEC). The rumors are confirmed in a Kracken deal to remove staking as part of an SEC Settlement.
My concern is the massive impact this may have on Ethereum and its full impact on innovation on blockchain and Web3. These deals push more companies offshore and more Americans out of the possibility of financial freedom.
Bitcoin and ETH take the biggest sentiment hit this year
1/ 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.
Today @SECGov charged Kraken for the unregistered offer & sale of securities thru its staking-as-a-service program.
Whether it’s through staking-as-a-service, lending, or other means, crypto intermediaries must provide the proper disclosures & safeguards required by our laws.
Time to begin your Self Custody Journey!
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#Crypto #Ethereum #Bitcoin ~SEC Banning Crypto Staking? Gary Gensler Manipulating Ethereum Price?~