Kraken Announces New Onchain Crypto Staking Program for US Clients Two Years After SEC Crackdown

One of many prime US-based crypto exchanges is launching a revamped crypto staking program two years after the U.S. Securities and Trade Fee (SEC) compelled an identical initiative to shutter.

Based on Kraken, US purchasers in 37 states and two territories can stake 17 property onchain beginning at the moment.

Kraken purchasers residing in Alaska, Arizona, Arkansas, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Indiana, Iowa, Kansas, Louisiana, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Utah, Virginia, West Virginia, Wyoming, District of Columbia, and Puerto Rico can now stake Ethereum (ETH), Solana (SOL), Cosmos (ATOM) and 14 different Proof-of-Stake tokens by the change.

Says Mark Greenberg, Kraken World Head of Customers, of the staking re-launch,

“Launching this new staking product within the US is an overwhelmingly optimistic improvement, not only for Kraken but additionally for the whole US crypto house.

We’re excited to deliver again a model new product enabling US purchasers to renew staking with Kraken and play a major function in bolstering the underlying safety of blockchain networks.”

The announcement comes two years after the SEC ordered Kraken to discontinue its staking-as-a-service program. Kraken additionally needed to pay $30 million to settle the swimsuit.

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