Former SEC Attorney: Kraken Action Not a Condemnation of 'Staking Writ Large'

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Former SEC Attorney: Kraken Action Not a Condemnation of 'Staking Writ Large'
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Former SECgov attorney and current ketsal partner Zachary Fallon says the regulator's action involving krakenfx is 'not a condemnation of staking writ large.” _franvela reports

is a method of maintaining integrity in a blockchain by ensuring users of a cryptocurrency can’t mint coins they didn’t earn. Proof-of-stake relies on"proof" of how much of a"stake" users have in a blockchain, such as Ethereum. Some, however, delegate their node operations to a third-party operator, such as Kraken.

When it comes to crypto, “the SEC relies on a facts- and circumstances-based test to assert its oversight.”

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