Kraken will shut down its U.S. crypto staking service and pay a $30 million fine to settle with the SEC

ChainCatcher news, the cryptocurrency exchange Kraken will terminate its cryptocurrency staking services for U.S. customers and pay $30 million to settle the U.S. Securities and Exchange Commission (SEC) charges of offering unregistered securities.

The SEC stated that Kraken has been providing staking services to the public since at least 2019. Kraken announced it will discontinue staking services for U.S. customers, except for staked Ether, which will not be canceled until the Ethereum network's Shanghai upgrade takes effect. U.S. customers will not be able to stake new assets (including Ether). Additionally, non-U.S. customers are unaffected. (Source link)