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Sujit Kumar
Feb 15, 2023
by Sujit Kumar

After U.S. Crackdown, Korean Regulators Probe Local Crypto Staking Services

U.S. Crackdown

Table of contents

  1. Quick facts: 
Following the recent enforcement actions taken by the U.S. Securities and Exchange Commission (SEC), it is rumored that the financial regulators in South Korea intend to examine cryptocurrency staking services offered by local exchanges.

Quick facts: 

South Korean authorities told News1 that local crypto-staking services will be examined because of international scrutiny of these services. The duration of their investigation was not made public.

The SEC's crackdowns on staking services and crypto-related products, which the agency claims are unregistered securities, followed South Korea's investigation into its local sector.

After the Securities and Exchange Commission (SEC) said that Kraken had broken securities law, the U.S. cryptocurrency exchange shut down its staking programs last week.

Paxos Trust Company, a developer of Binance USD (BUSD), received an order from the New York Department of Financial Services on Monday to stop issuing its stablecoin.

Separately, the SEC has sent Paxos a notice claiming that the BUSD stablecoin is not a registered security.

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U.S. Crackdown korean regulators crypto staking service
After U.S. Crackdown, Korean Regulators Probe Local Crypto Staking Services
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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