Crypto Exchange Kraken Ends Staking Program in SEC Settlement

Kraken will pay $30 million to settle and terminate allegations by the Securities and Exchange Commission that it has breached U.S. securities rules with its cryptoasset staking products as a portion of the regulation with the regulatory authority.

Today's action should send a clear signal to the market that staking service providers are required to register and provide a full service, fair, and the protection of investors," said SEC President Gary Gensler.