Key Points:Bitcoin’s (BTC) value is dropping following the announcement that the Securities and Exchange Commission has launched an investigation into Kraken.
Brian Armstrong, CEO of Coinbase, a crypto exchange based in the US, is opposed to any potential SEC crackdown on crypto-staking.
Bitcoin (BTC), which is currently falling in value, has been impacted by the news that the Securities and Exchange Commission was investigating Kraken, the third-largest cryptocurrency exchange in the world, to determine if it had illegally sold unregistered securities. According to Bloomberg, the inquiry could be ending soon, with a settlement possible within days. It is unclear which tokens or other items provoked the SEC investigation.Clients can invest in about 185 different cryptocurrencies on the US-based exchange, as well as stake their holdings for rewards. Bloomberg predicts that any settlement will have wider ramifications for crypto sector.
A settlement with SEC could force other crypto firms to reach deals with the regulator. The SEC has repeatedly stated that most tokens being offered are securities and should be subject to its rules.
According to the report, Bitcoin is worth $21,860 as of the date of writing. This is more than 5% lower than its peak the day before. Source: Tradingview. It allows people to directly participate in the operation open-source crypto networks. Staking increases the space in many ways, including scalability and increased security. It also reduces carbon footprints. We encourage you to do your research before investing.Join us to keep track of news: https://linktr.ee/coincuThanaCoincu NewsTags: # Bitcoin regulations#bitcoin pricebitcoin price analysisBitcoinsKrakenSECSECsSecurities and Exchange Commission