Teresa Goody Guillén

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Crypto Exchange Kraken Settles SEC Action and Agrees to Pay $30M Fine and Shutter U.S. Crypto Staking Service

By Teresa Goody Guillén, Veronica Reynolds, Michelle Tanney and J'Naia Boyd on February 16, 2023 Posted in Blockchain

According to the SEC’s complaint, Kraken offered and sold its staking[1] services to the general public in which participants could transfer crypto assets to Kraken in exchange for “advertised annual investment returns of as much as 21%” (the Kraken Staking Program). The SEC alleges that this Kraken Staking Program enabled Kraken to achieve a competitive … Continue Reading

New Congressional Subcommittees Foreshadow Pending Digital Asset Legislation

By Kevin Edgar, Teresa Goody Guillén, Michelle Tanney and Veronica Reynolds on February 13, 2023 Posted in Alert

Two congressional committees of the U.S. House of Representatives commenced the new year by announcing the creation of new subcommittees for the 118th Congress that are expected to analyze issues concerning cryptocurrency and digital assets. The creation of these subcommittees signals the potential for legislative action in the wake of jurisdictional uncertainty regarding federal agency … Continue Reading