South Korea’s monetary regulators are planning to overview native staking providers, in response to Forkast Information.
The nation cited the latest contradiction between the U.S. Securities and Change Fee (SEC) and the crypto trade Kraken, as Forkast Information reported.
South Korea didn’t disclose a timeline for the overview.
At first of the month, the SEC charged Kraken for violating the laws because the trade didn’t register its staking service as a safety providing. Upon this, Kraken suspended its staking providers for its customers residing within the U.S.
Commenting on this information, Coinbase CEO Brian Armstrong stated that the SEC would possibly need to “do away with” crypto staking. Armstrong acknowledged:
“We’re listening to rumors that the SEC wish to do away with crypto staking within the U.S. for retail clients. I hope that’s not the case as I imagine it will be a horrible path for the U.S. if that was allowed to occur.”
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