Kraken Securities and Exchange Commission settlement News reportBecause of the back-to-back impact on the utility of information, the password sales market is at risk of collapse. According to an official announcement, the exchange reached a settlement with the Securities and Exchange Commission (SEC), allowing it to shut down its password chip service and impose a $30 million penalty. The relationship seems to be moving very fast after it was announced earlier that a settlement could be reached in the next few days. Kraken is facing an SEC investigation and analysis to find out whether it gives unregistered securities.
In addition, the cryptocurrency market has been heavily sold in response to settlement messages from the Kraken Securities and Exchange Commission. In a very short period of time, the value of Bitcoin fell by about $600 to $22000 today. As of this writing, Bitcoin was trading at $22025, down 3.75% in the past 24 hours. According to the current hot plate, BTC is more likely to fall further.
On the other hand, Binance, the main password trading center, indicated that this would temporarily suspend dollar deposits and withdrawals. This has led to speculation about the challenge between the trading center and US commercial bank partners. The company said in a statement that it had been working hard to resume services as soon as possible.
There has been a lot of discussion about password posts as a service after CoinbaseCEO Bobby Armstrong indicated that the Securities and Exchange Commission was about to issue restrictions. He pointed out that there were rumors that SEC was preparing to ban bets on retail passwords. Kraken made it clear that the latest developments in shutting down its chips to provide services only strictly implement the intention of SEC.
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Tue, 18 Apr 2023