The latest development was the enforcement action by the US Securities and Exchange Commission (SEC) against Kraken, a popular crypto exchange. This resulted in the termination of its staking program for US residents and a fine of $30 million.

However, not everyone agrees with this view. Crypto investor Nick Carter believes that crypto Protocol will benefit from the situation. Because the main failure of proof-of-stake is for exchanges to become master nodes.

While this may sound great in theory, Omid Malekan, an assistant professor at Columbia Business School, has a different perspective. In his opinion, Carter’s idea would only result in a better world, but he also notes:

“It is only a matter of time until regulators go after liquid staking protocols. Eventually, only whales and institutions (accredited investors) will be able to stake legally, which is even worse for decentralization.

Publication from: Cryptosaurus


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Bright Future for Decentralization Amid US Crypto Crackdown