Kraken revives staking for 17 cryptocurrencies in U.S. post SEC settlement
Kraken revives staking for 17 cryptocurrencies in U.S. post SEC settlement
Cryptocurrency exchange Kraken has reintroduced staking services for US customers, nearly two years after shutting them down due to regulatory pressure from the Securities and Exchange Commission (SEC).
The service, now available in 37 states, supports staking for 17 different blockchains, including Ethereum and Solana. This marks a major step in Kraken’s efforts to reenter the US staking market while ensuring compliance with current regulations.
Kraken initially halted its US staking program in February 2023 after settling SEC charges for allegedly offering an unregistered securities product. The company agreed to pay a $30 million fine but maintained that staking services play a crucial role in blockchain security and decentralization. Unlike its previous staking model, Kraken’s new offering requires users to engage in "bonded staking," where assets are locked up for a specified period and delegated to validators.
Impact on the market and regulatory outlook
Kraken’s move signals renewed confidence in the US regulatory landscape, especially following leadership changes at the SEC under the new administration. The crypto industry is closely watching whether other exchanges will follow suit, as staking remains a critical source of yield for investors and a key mechanism for securing proof-of-stake networks. With increased regulatory scrutiny, firms are adapting their staking models to align with evolving compliance requirements.
Additionally, Kraken holds Lunar Trading Championship with 88,880 USDT prize pool
