Commissioner Caroline Crenshaw dissented from the staff statement, arguing it contradicts legal precedents from enforcement actions against Kraken and Coinbase

Quotes that support claims

The dissenting commissioner also said the new guidance contradicts court precedent, citing two cases involving U.S. crypto exchanges Kraken and Coinbase. She also cited a separate dismissal for Binance, released on the same day.

During Gensler's term, the SEC had taken issue with staking services from Kraken, Coinbase and MetaMask.