The post Kraken re-instates crypto staking after $30m SEC settlement appeared on BitcoinEthereumNews.com.

After the Securities and Exchange Commission ordered Kraken to close its United States staking platform in 2023, the exchange has reopened cryptocurrency staking for specific tokens in select states. Kraken has re-introduced cryptocurrency staking services for customers in 39 eligible states, nearly two years after settling a case with the Securities and Exchange Commission. In February 2023, Kraken agreed to pay a $30 million fine to resolve federal charges alleging securities violations. Part of the deal ordered the crypto exchange to shutter its staking-as-service business and end staking for American clients. The new business offering via Kraken Pro will allow U.S. users to stake 17 digital assets, including Ethereum (ETH), Solana (SOL), and Cardano (ADA). Additionally, the service will adopt a bonded staking model, which requires users to lock up their tokens for a predetermined period. The lock-up duration will vary based on the individual blockchain network. Kraken also stated that slashing insurance will be applied, offering greater risk management for users. The relaunch of staking services in the United States, despite the previous crackdown by the Securities and Exchange Commission, may signal shifting regulatory conditions. President Donald Trump’s return to the White House has brought a crypto-focused policy agenda aimed at establishing clearer rules for the digital asset industry. Early signs suggest a starkly different approach from the previous administration, with pro-cryptocurrency officials nominated for key regulatory positions. Furthermore, Kraken’s decision to reintroduce staking could indicate progress toward regulatory clarity regarding yield-generating services. For years, the Securities and Exchange Commission has taken a firm stance against staking, classifying the on-chain business model as an unregistered securities offering. However, with a new administration in place and growing calls for comprehensive digital asset regulations, this stance may soon change. Source: https://crypto.news/kraken-re-instates-crypto-staking-after-30m-sec-settlement/

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Filed under: News - @ January 30, 2025 10:22 pm