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South Korea To Examine Crypto Staking Services Following the Kraken Case

As reported by a local publication on Feb. 15, Korean financial authorities are looking into the staking services market. However, as the unnamed official specified to the journalists:

The fears of the crypto community about the possible repercussions of the recent court deal between the United States Securities and Exchange Commission (SEC) and Kraken are starting to materialize. Following their American counterparts, South Korean regulators intend to examine the crypto-staking operators in the country. 

No details on the timeline and methods of the examination were provided, but it could affect some legislative decisions. In contrast to more common operations with digital assets, crypto staking isn’t defined by Korean regulation at the moment.

(By DAVID ATTLEE)

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