Crypto Clampdown Begins
As financial regulators around the world continue to crackdown on stablecoins, some are asking if they are overreaching their jurisdiction.
Welcome to The Daily Forkast – February 14, 2023 – presented by Joel Flynn.
The UK, Europe, South Korea and Australia have all made moves in recent weeks on crypto regulation, but there’s one country in particular that everyone is keeping their eyes on.
US authorities are starting to crackdown on stablecoin issuers and crypto services providers. At the start of February, crypto exchange service Kraken announced it would shut down its on-chain staking services for its American users in order to settle charges with the SEC.
While some have said moves like this makes sense, others have been asking if the SEC is reaching beyond its jurisdiction on stablecoins. We’ll have more on that in this episode.