129 - US Crusade Against Staking and Stablecoins - a podcast by Yana Afanasieva

from 2023-03-06T02:00

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In this episode, I share my analysis of why US regulators have recently gone on a crusade of enforcement in the crypto space, using Kraken, Paxos, and Binance as the prime examples to highlight the issues that are being experienced by FinTech organizations currently. 

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Today's episode:

[00:39] An overview of today’s topic. 

[01:07] A common mistake made by struggling compliance professionals and the program I created to change this.

[04:37] Exploring the concept of staking. 

[06:52] What the Kraken staking program consisted of. 

[07:23] The issue that US regulators had with Kraken’s marketing approach and a safer approach that could have kept them out of trouble. 

[08:40] Kraken’s second mistake: mixing their own staking pool with their customers’ staking pool.  

[11:34] A summary of the factors that made Kraken vulnerable. 

[12:50] Why the SEC forced Paxos and Binance to stop issuing Binance USD Stablecoins.

[17:33] Examples of what the term “stablecoin” refers to. 

[18:12] Changes that stablecoin issuers and users can expect in the coming months. 

 

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