According to the SEC, staking services may run afoul of federal securities laws in the U.S. when exchanges make themselves too much of an intermediary by determining the returns its customers would receive, instead of strictly the protocol. Staking can be complicated and too technical for the everyday investor. That is where staking services come in. They take care of the technical part of staking. Functions include setting up and maintaining masternodes in Dash or PIVX, participation nodes in Algorand, or vetting nodes to include in quorum nodes for Stellar. Unlike a casino, though, your chances of “winning” aren’t based on luck. Instead, they are purely up to you – if there are malicious individuals trying to push a fraudulent transaction, they will be punished by losing all of their staked coins – this incentivizes the validators to remain fair, and avoid foul play.
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The largest token fell as much 2.1% on Friday in Asia, breaking below US$20,000 for the first time since January, after it fell more than 8% on Thursday. It pared some of the Asian slide to retake the round-number marker but remained subdued, as did smaller tokens such as Ether and Dogecoin. China-born crypto mogul Justin Sun, an adviser to Huobi, said it will set up a $100 million fund to improve the platform’s multi-currency liquidity. Thailand saw turnover at locally licensed crypto exchanges peak at 217 billion in May from 18 billion baht in November 2020, according to data from the Securities and Exchange Commission of Thailand. It has fallen since and averaged about 100 billion baht a month in the August-October period. Currencies Money transfers up to 8x cheaper than traditional banks