Kraken Revives Staking for U.S. Clients After SEC Settlement

Cryptocurrency exchange Kraken has announced the reintroduction of its staking products for U.S. customers, nearly two years after settling a case with the Securities and Exchange Commission (SEC). The new service, available through Kraken Pro, allows users in 39 eligible states to stake 17 digital assets, including Ethereum (ETH), Solana (SOL), and Cardano (ADA).

The service adopts a bonded staking model, requiring users to lock up their tokens for a predetermined period based on the individual blockchain network. Kraken also stated that slashing insurance will be applied, offering greater risk management for users. The exchange has reopened cryptocurrency staking for specific tokens in select states, following the SEC's order to close its U.S. staking platform in 2023.

In February 2023, Kraken agreed to pay a $30 million fine to resolve federal charges alleging securities violations. As part of the deal, the crypto exchange was ordered to shutter its staking-as-service business and end staking for American clients. The reintroduction of staking services for U.S. customers marks a significant development in Kraken's efforts to comply with regulatory requirements while continuing to offer innovative financial products to its users.