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> Most concerning, though, is that our solution to a failure to register violation is to shut down entirely a program that has served people well. The program w
by codetrotter 4y ago
> Most concerning, though, is that our solution to a failure to register 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, 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.
Well said by SEC Commissioner Hester M. Peirce
- powera 4y agoA program "that has served people well" ... yet is both optically and legally the same as "Gemini Earn", which has currently lost everybody's money. When dealing with creative villains, the lazy approach is sometimes best. If Kraken can't manage the bare minimum on compliance on their own, there is no reason the government should help them; better to be "lazy" and shut it down.