Crypto exchange Kraken settles with SEC for $30 million, will close U.S. staking operation
Kraken is one of the world's largest crypto exchanges. Tiffany Hagler-Geard | Bloomberg via Getty Images Crypto exchange Kraken will shutter its U.S. cryptocurrency staking operation and pay a $30 million fine to settle an enforcement action alleging it sold unregistered securities, the Securities and Exchange Commission said Thursday. The SEC alleged Kraken failed to register the offer and sale of Kraken's crypto staking -as-a-service program. related investing news Coinbase CEO Brian Armstrong is sounding the alarm on a potential 'staking' crackdown. Here's what it says about crypto Tanaya Macheel 43 minutes ago Many centralized exchanges like Kraken and Gemini offer customers the option to stake their tokens in order to earn yield on their digital assets that would otherise sit idle on the platform. With crypto staking, investors typically vault their crypto assets with a blockchain validator, which verifies the accuracy of transactions on the blockchain...