Coinbase co-founder, and CEO Brian Armstrong has expressed worries over rumors of the U.S. Securities and Exchange Commission (SEC) considering a ban on cryptocurrency staking for retail investors.

Popular cryptocurrency exchange Kraken is reportedly embroiled in a probe from the U.S. Securities and Exchange Commission (SEC) over whether the firm broke securities laws related to certain offerings to American clients.

Deutsche Bank’s asset management arm DWS Group, led by CEO Stefan Hoops, is in talks to invest in two German cryptocurrency firms as part of the company’s efforts to revive growth. The bank is looking to buy a minority stake in Deutsche Digital Assets and Tradias.

Sponsored: B2Broker, a provider of white-label liquidity for FX and crypto markets, has expanded its globally recognized white-label liquidity products for digital businesses. By integrating Match-Trader into its white-label solution, B2Broker has demonstrated its commitment to providing customers with the most comprehensive and versatile solution on the market.

 Top stories in the Crypto Roundup today:

• Coinbase CEO Cites Rumors of US Crypto Staking Ban
• Kraken Faces SEC Probe Over Unregistered Securities
• Deutsche Bank’s DWS in Talks to Invest in Two Crypto firms
• Spot Trading Volumes Saw the Largest Percentage Increase Since January 2021
• Sponsored: B2Broker and Match Trader Announce Powerful Integration for New White Label Model

Coinbase CEO Cites Rumors of US Crypto Staking Ban

Coinbase co-founder, and CEO Brian Armstrong has expressed worries over rumors of the U.S. Securities and Exchange Commission (SEC) considering a ban on cryptocurrency staking for retail investors.

Armstrong believes that such a ban would have a negative impact on the growth of the cryptocurrency sector in the country. Per the CEO, crypto staking brings several benefits, including stability, security, and energy efficiency.

The CEO of Coinbase emphasized the importance of encouraging new technologies to grow in the U.S., and revealed he believes it’s crucial to national security that the country builds out its capabilities in the field of financial services and Web3.

On social media, Armstrong also said that staking isn’t a security. Staking is a way for cryptocurrency token holders to generate income on their holdings by locking the assets to help validate transactions on their underlying Proof-of-Stake networks.

SEC Chair Gary Gensler has previously stated that cryptocurrencies that permit staking could be considered securities under the Howey test. Nevertheless, Ether has been designated as a commodity by the SEC's sister regulator, the Commodity Futures Trading Commission (CFTC).

Kraken Faces SEC Probe Over Unregistered Securities

Popular cryptocurrency exchange Kraken is reportedly embroiled in a probe from the U.S. Securities and Exchange Commission (SEC) over whether the firm broke securities laws related to certain offerings to American clients.

The SEC’s investigation into whether Kraken provided unregistered securities is near completion and could result in a resolution soon, Bloomberg reports. It is currently unclear which tokens or offerings are under examination.

Any action taken against Kraken could have a significant impact on the cryptocurrency industry, which has faced increased scrutiny in Washington following the downfall of FTX last year.

A settlement with the regulator could encourage other crypto companies to reach agreements, as the SEC has consistently stated that most of the tokens being offered are securities that should abide by the agency's regulations.

Last year, Kraken reached a settlement in an unrelated case with the Treasury’s Office of Foreign Assets Control (OFAC) over allegations it violated US sanctions against Iran. The exchange agreed to pay a little over $360,000 as part of the deal and invest $100,000 in sanctions compliance.

OFAC stated at the time that Kraken had voluntarily disclosed the apparent violations and cooperated with the government’s investigation.

Deutsche Bank’s DWS in Talks to Invest in Two Crypto firms

Deutsche Bank’s asset management arm DWS Group, led by CEO Stefan Hoops, is in talks to invest in two German cryptocurrency firms as part of the company’s efforts to revive growth. The bank is looking to buy a minority stake in Deutsche Digital Assets and Tradias.

Deutsche Digital Assets is a Frankfurt-based provider of cryptocurrency exchange-traded products, while Tradias is a market-making firm owned by Bankhaus Scheich. DWS has also held talks on collaborating with Mike Novogratz’ Galaxy Digital.

DWS’ CEO is seeking to revive the firm's reputation after allegations of greenwashing resulted in investigations by US and German authorities. He is a strong advocate of new technologies and in December, presented a strategy focused on blockchain and digital currencies.

DWS is not alone in its interest in the digital assets space. Major financial companies such as Bank of New York Mellon and BlackRock are making their own moves into cryptocurrency, with the belief that the industry will offer profitable opportunities as it grows and develops.

Spot Trading Volumes Saw the Largest Percentage Increase Since January 2021

In January spot trading volume saw a significant boost of 57.9% to reach $860 billion, marking the largest percentage increase since January 2021. Top-Tier exchange spot volumes saw a 58.6% rise to $800 billion, while Lower-Tier exchanges’ spot volumes increased by 49.0% to $59.9 billion. Despite this positive growth, trading volumes still remain at historically low levels.

Top-Tier cryptocurrency exchanges, as measured according to CryptoCompare’s October 2022 Exchange Benchmark rating, now account for 93% of total spot volume, a record high.

Dive deeper into the latest market trends with CryptoCompare’s latest Exchange Review report. 

B2Broker and Match Trader Announce Powerful Integration for New White Label Model

B2Broker, a provider of white-label liquidity for FX and crypto markets, has expanded its globally recognized white-label liquidity products for digital businesses. By integrating Match-Trader into its white-label solution, B2Broker has demonstrated its commitment to providing customers with the most comprehensive and versatile solution on the market.

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With round-the-clock server and technical support, dedicated account managers, and training sessions, Match-Trader offers a stress-free online trading experience. Additionally, businesses can benefit from competitive commissions and a favorable volume charge, with a free platform configuration and no setup fees. The product requires a minimum liquidity fee for three months as an initial investment, with a grace period of a whole calendar month.

B2Broker also offers a white-label solution that integrates Match-Trader with B2Core, allowing brokers to provide their customers with a high-quality trading experience. The Match-Trader section of the B2Core website provides new capabilities and features, including the ability to process transactions and access to the platform.

Incorporating Match Trader into its offering, B2Broker provides brokers with a robust and exciting solution for their customers. The package offers a wide range of powerful tools, making it a perfect fit for organizations looking for advanced technology. In the future, Match Trader will be incorporated into IB's programming, providing traders access to a wide range of professional-grade options.

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