Yesterday, Kraken, one of the biggest crypto exchanges in the U.S., agreed to shut down its “staking” program and pay $30 million in fines to settle charges from the Securities and Exchange Commission that it failed to register the service.
This marks the first time that the SEC has gone after a major crypto exchange over staking.
Crypto prices fell once the news broke amid wider fears of a crypto crackdown in the U.S.
So earlier today, I sat down with Field Notes Managing Editor Ciaran Madden to explain what staking is…discuss why the SEC has now decided to target this corner of the crypto world…and outline where crypto goes from here.
Check out the video of our conversation below…
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