For factors that affect the price of Bitcoin to decline. It is expected that investors are concerned regarding the situation with the Kraken exchange. On February 9, 2023, the US Securities and Exchange Commission (SEC) issued an order to fine payward. Ventures, Inc. and Payward Trading Ltd., both of which are commonly known as crypto-asset exchange Kraken.
Because the service is not registered for offering digital assets like Staking, a service that allows investors to deposit digital assets to receive an advertised annual return on investment of up to 21%.
To pay the SEC’s fine, both Kraken companies agreed to immediately cease offering or selling assets through the staking service and pay $30 million in compensation, interest and civil penalties.
The president of the US SEC has said that staking services, lending or other methods. When offering investment contracts in exchange for tokens to investors, proper disclosure is required and protected by securities laws. Moreover, today’s action will make it clear to the market that operators stake-as-a-service Must register and provide complete, fair and truthful disclosure. and investor protection
refer SEC
