SEC Staking Crackdown could be positive for the decentralized ETH

SEC Staking Crackdown could be positive for the decentralized ETH

On February 9, Gary Gensler and his SEC aimed at octopuses and his staking-as-a-service products. The regulatory authority claims that the US crypto exchange does not offer registered securities via their staking services.

As a result, Kraken exposed the staking-as-a-service and the cryptoma markets have broken down.

On February 10th, the well -known analyst and trader Alex Krüger rated the recent official passion for Uncle SAM.

He said that a ban on the setback that the SEC is striving could drive the stake outside the chain or overseas. This would decentralize Ethereum even further, since it was no longer under the hammer of the US regulating authorities.

positive narrative spin for later: to offer the ban on US stock exchanges/custodian banks, staking services, the staking outside the chain or abroad is no longer centralized and under the control of the US regulating authorities.

decentralized ETH is better eth.

- Alex Krüger (@krugermacro) 9. February 2023

Ethereum can escape the clutches of the US supervisory authorities

Krüger further predicted that the narrative could be as positive as it did after China Bitcoin banned and the exodus of the miner had further decentralized.

"See how this spin starts in a few weeks ... Similar to how it happened when China Bitcoin prohibited (the last time!) And Narrative spinners made it: 'This is good for Bitcoin, since the mining will now focus on the USA instead of the USA."

investors will not stop setting or buying Ethereum because poorly informed US supervisory authorities want to ban it. The net result will be a crypto exodus from America in friendly jurisdiction.

On February 8, Brian Armstrong, CEO of Coinbase, warned that the continued persistence of the SEC companies would urge companies abroad, which exactly happened with FTX. Gary Gensler's crypto war path will ultimately harm more than benefits and the investors he tries to protect further.

ripple CEO Brad Garlinghouse emphasized positive steps of financial supervisory authorities in other regions such as Dubai, Australia, Great Britain, South Korea and Brazil. The United States are left behind, and this seems to be one of the goals of the Sec when it comes to crypto.

step down from what happens in the United States - especially in the past few weeks the number more positive (or at least in the direction of Clarity) is stimulating!

- Brad Garlinghouse (@bgarlinghouse) 9. February 2023

tank for crypto markets

The cryptoma markets reacted poorly to the recent accession of the supervisory authorities. The entire market capitalization has dropped by 5.3 % in the last 24 hours, with $ 60 billion leaving the room.

According to Coingecko, Bitcoin fell by 5 % to $ 21,843 in a decline, while Ethereum dropped 6.3 % to act at $ 1,550 at the time of writing this article.

The rest of the board was a sea of red, with many old coins facing their biggest daily dump of the year with double -digit losses.

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