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SEC chair issues warning to crypto firms after action on Kraken staking

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Cryptocurrency 37 minutes ago (Feb 11, 2023 12:00PM ET)

SEC chair issues warning to crypto firms after action on Kraken staking

United States Securities and Exchange Commission Chair Gary Gensler issued a warning to crypto companies to “come in and follow the law” after the agency announced a settlement with crypto exchange Kraken.

Appearing on CNBC’s Squawk Box on Feb. 10, Gensler said crypto exchanges should register with the SEC in order to be compliant with regulations in the U.S., claiming that many within the industry were “choosing” not to do so. According to the SEC chair, the business models of many crypto projects were “rife with conflict,” claiming they needed to “disentangle” bundled products.

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