would no longer support crypto transactions below $100,000. Signature, one of the largest banks to serve crypto firms, started pulling back from the crypto business last year.
Crypto executives have been spooked by last week’s settlement between the SEC and the parent company of the Kraken crypto exchange, in which the companyand agreed to stop offering so-called staking services to U.S. investors. The company didn’t admit wrongdoing. Services such as lending and staking have been available for years, but the SEC only recently took formal action against them. That has furthered the industry’s grievance that Mr. Gensler is uninterested in negotiating a bespoke regulatory regime for crypto. Instead, the SEC wants to impose its full Wall Street rulebook on the industry, industry officials say.
Paxos hosted a party with synchronized swimmers at the Versace Mansion in Miami during a crypto conference last year.Mr. Gensler has warned since FTX’s fall that crypto companies, including the exchanges that are the hubs of the market, are running out of time to voluntarily comply with investor-protection rules. Mr. Gensler has dismissed crypto-industry claims that their market is too unique to coexist with SEC rules as a “talking point.
This is not regulations, this is lobbying and power abuse
Why?
Communists
Hmm what happens when one of your writers titles their article with the headlines “too many asians?” wjmcgurn aapihate aapi
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