Tag Archives: Cryptocurrency

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

Photo of Teresa Goody GuillénPhoto of Veronica ReynoldsPhoto of Michelle TanneyPhoto of J'Naia BoydBy Teresa Goody Guillén, Veronica Reynolds, Michelle Tanney and J'Naia Boyd on 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

SEC’s Gensler Steps Up Crypto Criticism

Photo of Kevin EdgarBy Kevin Edgar on Posted in Blockchain
Securities and Exchange Commission Chairman Gary Gensler makes no secret of his desire to bring cryptocurrency exchanges and tokenized offerings under his agency’s direct oversight. Gensler stepped up his advocacy with recent comments that the “vast majority” of tokens are in fact securities. The Federal Policy team’s Kevin Edgar co-authored an important summary of Gensler’s … Continue Reading

Proposed Federal Crypto Legislation Supported by Digital Asset Ecosystem; Consumer Advocacy Groups Balk

Photo of Kevin EdgarBy Kevin Edgar on Posted in Technology
New bipartisan Senate legislation aims to create a regulatory framework for federal oversight of digital assets. But would the proposal balance innovation and consumer protection? Will Congress act on this crypto legislation? The Federal Policy team’s Kevin Edgar co-authored an analysis of the bill, what it would do and how it would affect stakeholders. Read … Continue Reading
LexBlog