Agency Crackdown on Kraken

SEC Commissioner Hester Peirce has criticized the agency‘s recent decision to crack down on the cryptocurrency exchange Kraken.

Peirce referred to the decision as paternalistic and lazy, arguing that the agency should have instead taken a less aggressive stance and worked with Kraken to find a solution. She argued that the SEC should not be in the business of micromanaging the cryptocurrency industry and that taking such an approach could stifle innovation. Peirce also noted that the SECs decision to crack down on Kraken was done without following the agencys established process.


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