The United States Securities and Exchange Commission (SEC) has made it clear that the majority of crypto services and products are categorized under securities.
The SEC remains bold in crypto regulations
After the SEC closed the doors for the staking service of Kraken, a well-known crypto exchange. This move may bring positive changes in the industry, according to analysts and veterans. The regulator also said that some of the other prominent names will also be dragged in the same scenario. Chairman Gary Gensler said that “This really should put everyone on notice in this marketplace.”
According to Forbes, the TerraUSD collapse in May 2022, started to tighten the regulation of the industry as it wiped out almost $600 billion. Also, it forced many firms such as Voyager Digitals, Celsius Network, Three Arrow Capital (3AC) and more to go bankrupt, remarking the onset of the crypto winter. The administration under the current U.S. President Joe Biden reverted back by making a neces
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