Cathie Wood: Regulatory crackdowns on centralized staking will harm the competitiveness of the U.S. in the Web3 space

2023-02-12 09:35:18

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ChainCatcher news, ARK Invest founder Cathie Wood stated, "The U.S. crackdown on (centralized) staking services is detrimental to America's competitiveness in the cryptocurrency revolution, and trading platforms registered in the U.S. will lose to foreign competitors. Decentralization will win."

Previously, according to an announcement from the U.S. Securities and Exchange Commission (SEC), the cryptocurrency exchange Kraken will terminate its cryptocurrency staking services for U.S. users and pay $30 million to settle SEC's charges of offering unregistered securities. The SEC's description of the staking services provided by Kraken highlighted the "risks" that investors take when staking tokens with "staking-as-a-service" providers, and that the protections offered to users are "very limited." (Source link)

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