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Kraken restores staking services in US after 2-year hiatus

Kraken restores staking services in US after 2-year hiatus

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Source: Coin Telegraph

Kraken was one of the many crypto firms targeted by the Securities and Exchange Commission under former Chair Gary Gensler’s leadership.

Crypto exchange Kraken has resumed staking services for US clients for the first time in nearly two years. Customers’ ability to stake had been paused since 2023, when the exchange reached a multimillion-dollar settlement with the Securities and Exchange Commission over the services.

Customers in 37 US states will now be able to access staking services for 17 digital assets, including Ether (ETH), SOL (SOL) and Cardano’s ADA (ADA).

Kraken was among the first crypto exchanges to provide staking services to customers, which it began offering in 2019. The exchange agreed to stop providing the services in February 2023 as part of a $30 million settlement with the SEC.

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Author: Vince Quill