Odaily Planet Daily News: Hester Peirce, a member of the U.S. SEC and "crypto mom", published an article on the SEC's official website, saying that she objected to the SEC's closure of Kraken's U.S. pledge service. Hester Peirce said that the SEC believes that Kraken's pledge plan should have been registered with the SEC as a securities issuance product. Whether or not you agree with the analysis, the more fundamental question is whether it is possible to register with the SEC. In the current environment, products related to cryptocurrencies cannot go through the SEC's registration channel. Controversial pledge service products like this will raise a series of complex issues, including whether the pledge procedure is registered as a whole, or whether the pledge procedure for each token will be registered separately, what are the important disclosures, and what are the accounting impacts on Kraken. Peirce believes that the SEC should issue guidance on crypto pledges instead of choosing to speak through enforcement actions again. "Using enforcement actions to tell people what the laws of emerging industries are is not an effective or fair way to regulate." In addition, she pointed out that pledge services are not uniform, so one-time enforcement actions and cookie-cutter analysis cannot solve the problem. Peirce expressed her concerns that the SEC's current solution to dealing with improper registration may close a project that provides good services to people. Enforcement actions such as the SEC are a "paternalistic and lazy" regulatory approach. As previously reported, the U.S. Securities and Exchange Commission (SEC) announced on Thursday that the crypto exchange Kraken will "immediately" end its crypto staking-as-a-service platform services to U.S. customers and will pay a $30 million fine to the SEC to resolve charges that it provided unregistered securities. SEC Chairman Gary Gensler said, "Whether through staking-as-a-service, lending, or other means, cryptocurrency intermediaries need to provide appropriate disclosures and protections required by our securities laws when offering investment contracts in exchange for investors' tokens. Today's action should show the market that staking-as-a-service providers must register and provide full, fair, and truthful disclosures and investor protections."