An SEC commissioner has decried her agency's shutdown of Kraken’s staking services in the US, suggesting its regulation by enforcement methods was not “efficient or fair.”
United States Securities and Exchange Commission commissioner Hester Pierce has publicly rebuked her own agency over the shut down of Kraken's crypto staking program in the United States.her regulator in a Feb. 9 statement called"Kraken Down," noting that regulation by enforcement “is not an efficient or fair way of regulating” in an emerging industry, stating:
Today, the SEC shut down Kraken’s staking program and counted it as a win for investors. I disagree and therefore dissent. Peirce's statement also slammed the regulator for shutting down a “program that has served people well." “Using enforcement actions to tell people what the law is in an emerging industry is not an efficient or fair way of regulating. Moreover, staking services are not uniform, so one-off enforcement actions and cookie-cutter analysis does not cut it," she said.
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