129 - US Crusade Against Staking and Stablecoins

<p dir="ltr">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. </p> <p dir="ltr">If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just <a href= "https://podcasts.apple.com/ch/podcast/compliance-that-makes-sense/id1535160531">click here to review</a>, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. </p> <p><strong> </strong></p> <p dir="ltr"><strong>Today's episode:</strong></p> <p dir="ltr">[00:39] An overview of today’s topic. </p> <p dir="ltr">[01:07] A common mistake made by struggling compliance professionals and the program I created to change this.</p> <p dir="ltr">[04:37] Exploring the concept of staking. </p> <p dir="ltr">[06:52] What the Kraken staking program consisted of. </p> <p dir="ltr">[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. </p> <p dir="ltr">[08:40] Kraken’s second mistake: mixing their own staking pool with their customers’ staking pool.  </p> <p dir="ltr">[11:34] A summary of the factors that made Kraken vulnerable. </p> <p dir="ltr">[12:50] Why the SEC forced Paxos and Binance to stop issuing Binance USD Stablecoins.</p> <p dir="ltr">[17:33] Examples of what the term “stablecoin” refers to. </p> <p dir="ltr">[18:12] Changes that stablecoin issuers and users can expect in the coming months. </p> <p><strong> </strong></p> <p dir="ltr"><strong>Show links:</strong></p> <ul> <li dir="ltr" style="font-weight: bold;" aria-level="1"> <p dir="ltr" role="presentation"><strong>Learn to be valued as a FinTech com