a16z Crypto General Counsel: Kraken's settlement with the SEC will not affect other trading platforms

ChainCatcher news, a16z Crypto's General Counsel Miles Jennings commented on the "Kraken and SEC Settlement" case, stating: "Staking is very important for the ecosystem, and staking-as-a-service projects are both legal and allow more people to participate in blockchain technology. We believe this settlement agreement will not affect trading platforms that have established plans not involving securities laws.

As a significant investor in Web3 and a company building the next generation of the internet, a16z is disappointed that Chairman Gensler continues to demonstrate that he only knows how to regulate through sporadic enforcement actions. It has been four years since the U.S. Securities and Exchange Commission (SEC) last issued guidance related to cryptocurrency, and its chairman continues to focus on making headlines rather than protecting investors according to the SEC's core mission. It is time for him to prioritize rules and guidance that will make the market clearer and proactively protect the public." (source link)