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SEC ramps up enforcement against crypto’s staking practice
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fnlondon.comWASHINGTON — The Securities and Exchange Commission escalated its enforcement campaign against the cryptocurrency industry with a settlement that could imperil a lucrative activity for other major crypto firms.
On 9 February, Payward's Kraken platform agreed to stop offering so-called crypto staking services in the US and pay $30m in penalties to the SEC. Staking allows investors to earn a yield by temporarily handing their crypto tokens over to either an intermediary or a cryptocurrency network.
The...
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