Kraken Shuts Down Staking Dept. Following SEC Battle
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It looks like Brian Armstrong of Coinbase fame was right to be as concerned as he was about the SEC and other organizations targeting crypto staking. In the latest headlines, the Securities and Exchange Commission has gone after Coinbase’s competitor Kraken. The exchange has agreed to shut down all its staking services as part of a settlement agreement and pay up to $30 million in fees. SEC Goes After Kraken In a complaint against the Northern California-based trading platform, the SEC says the company failed to notify customers engaging in staking activities about the alleged lack of protections being offered.
The Securities and Exchange Commission (SEC) has charged Kraken with failing to register their crypto asset staking-as-a-service program. The Securities and Exchange Commission (SEC) has charged Payward Ventures, Inc. and Payward Trading Ltd., commonly known as Kraken, for failing to register the offer and sale of their crypto asset staking-as-a-service…
Kraken reopens staking for users in 39 U.S. states, supporting 17 assets, signaling regulatory shifts and renewed investor confidence in crypto staking. Kraken has announced the reopening of its on-chain staking service for users in 39 states across the United States. Users of the exchange platform will have the ability…