Do you feel like the SEC decision yesterday will ultimately be good for crypto pushing people off exchanges and teaching them how to stake on chain themselves or it will ultimately hurt retail investors by pushing them away from POS?

so the sub seems divided by yesterdays SEC and Kraken settlement that requires centralized exchanges to disclose how they are generating the rewards they are paying out to their clients.

It seems the biggest issue the SEC had with Kraken is that their returns to customers were not coming from staking but in other ways that were not disclosed to the customer.

from the court filing:

Defendants market the Kraken Staking Program by touting specified investment returns for certain staking-eligible crypto assets on the kraken.com website, on social media channels, and through advertisement emails. Defendants determine these returns, not the underlying blockchain protocols, and the returns are not necessarily dependent on the actual returns that Kraken receives from staking

https://www.sec.gov/litigation/complaints/2023/comp-pr2023-25.pdf

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Coinbase released a statement that their staking services are not going to be affected since they are clear about how the rewards are generated using only on chain staking of the customers crypto.

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Others are so in favor of decentralization that they want the freedom to be able to hold their crypto in a centralized entity without anybody being able to tell them otherwise even if all the information isn't made public. "I know the risk and am willing to take it" is a phrase I've seen commented a lot on these threads. They also feel like this is just the start of what the SEC wants to do and eventually will go after all POS chains.

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