#staking

Yesterday, the U.S. Securities and Exchange Commission demanded that Kraken shut down its staking service. And today, SEC Commissioner Hester Peirce lashed out at her fellow regulators over their decision on the crypto exchange. According to Peirce, the SEC should develop transparent registration rules, instead of banning a program that served both investors and companies well. "Using enforcement actions to tell people what the law is in an emerging industry is not an efficient or fair way of regulating," the commissioner said. What title is after commissioner? Start a petition!

This time the SEC hits the crypto exchange Kraken over a possible violation of the Securities Act. Incoming CEO Dave Ripley has refused to delist tokens determined as securities under the Howey test and is now having troubles with the SEC. This case may be settled in the coming days and will make a decisive difference for the entire crypto community. It is also rumored that the SEC intends to ban retail staking. Genesis and Gemini keep their fingers crossed, as they have already stepped into Kraken's shoes once before.

Ethereum supporters are looking forward to the upcoming crypto spring. Another network update, dubbed Shanghai Fork, is scheduled for March. Shanghai Fork will allow users to access the funds locked into the Ethereum Beacon Chain. Depositors will be able to participate in validating transactions and earn newly-created Ethereum. J.P. Morgan believes Shanghai Fork will be a pleasant surprise for Coinbase as well. It estimates that up to 95% of retail investors of this crypto exchange will be able to participate in Ethereum staking after the update. The matter is that Coinbase may get additional revenue of about $225-$545 million per year.