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SEC Commissioner Hester Pierce dissented<\/a> from the regulator’s decision to fine crypto exchange Kraken $30 million and order the platform to cease its staking offering in the United States. <\/p>\n\n\n\n Pierce who is referred to as \u201cCrypto Mom\u201d by digital asset proponents, argued that the move from the Securities and Exchange Commission does not represent \u201can efficient or fair way of regulating\u201d the crypto industry. <\/p>\n\n\n\n On Thursday, the Commission said that Kraken failed to register its \u201cstaking-as-a-service\u201d or SaaS offering. The enforcement action taken against Kraken means that the platform must shut down its service for U.S. customers. Kraken was also enjoined from ever providing staking facilities on U.S. soil, whether registered or otherwise. <\/p>\n\n\n\n Pierce who disagreed with the decision noted that \u201cone-off enforcement actions and cookie-cutter analysis does not cut it\u201d as staking services do not always adopt the same model. <\/p>\n\n\n\n More transparency around crypto-staking programs like Kraken\u2019s might well be a good thing. However, whether we need a uniform regulatory solution and if that regulatory solution is best provided by a regulator that is hostile to crypto, in the form of an enforcement action, is less clear.<\/p><\/blockquote>\n\n\n\n The decision from the SEC came hours after Coinbase CEO Brian Armstrong noted rumors about the commission\u2019s plan to hunt down staking service<\/a> providers catering to U.S. retail customers. <\/p>\n\n\n\nSEC Raises Stakes For Crypto Companies<\/h2>\n\n\n\n