Kraken Terminates US Crypto-Staking Service, Settles $30M Fine Imposed by SEC
Crypto exchange Kraken confirms the immediate shutdown of its US-based crypto staking-as-a-service operations. The shutdown will feature payment of a $30 million fine imposed by the US Securities and Exchange Commission (SEC) for offering unregistered securities. Constituent Kraken’s Firms Terminate the Staking Services The statement by the crypto exchange firm dated February 9 indicated that
Stephen Causby2 min read
Crypto exchange Kraken confirms the immediate shutdown of its US-based crypto staking-as-a-service operations. The shutdown will feature payment of a $30 million fine imposed by the US Securities and Exchange Commission (SEC) for offering unregistered securities.
Constituent Kraken’s Firms Terminate the Staking Services
The statement by the crypto exchange firm dated February 9 indicated that the Kraken constituent firms – Payward Trading Ltd and Payward Ventures Inc – would shut down the staking programs to the US customers. The SEC representative confirmed in a subsequent update that Kraken had run the programs illegally since 2019.
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