Input Output (IO) CEO Charles Hoskinson argued that the SEC was right to go after Kraken over its Staking Program.
During a live stream broadcast on Feb. 14, Hoskinson spoke in detail about the SEC-Kraken enforcement action. Informing his comments was the actual complaint filed by the regulator with the District Court.
Based on his interpretation of the document, he understood that the regulator has no problem with staking. However, this is not the case for in-house exchange staking programs.
Kraken staking is not protocol staking
The SEC posted a press release on Feb. 9 giving notice of settlement with Kraken over allegations it had failed to register its Staking Program as a security offering.
The settlement deal required the exchange to end its Staking Program for U.S. customers and pay a $30 million fine. In response, some in the crypto community interpreted this as a crackdown on staking and an attack on the crypto industry.
However, Hoskinson pointed out that the SEC complaint fo
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