Following an agreement with the Securities and Exchange Commission (SEC) in 2023, Kraken has reopened cryptocurrency staking services in several US states.
Kraken's Staking Comeback
Kraken has reintroduced cryptocurrency staking services for customers in 39 states, nearly two years after settling a case with the SEC. In February 2023, Kraken agreed to pay a $30 million fine to resolve federal charges alleging securities violations.
New Staking Model and Features
The new offering via Kraken Pro will allow U.S. users to stake 17 digital assets, including Ethereum, Solana, and Cardano. The service will adopt a bonded staking model, requiring users to lock up their tokens for a predetermined period. Kraken also stated that slashing insurance will be applied, providing enhanced risk management for users.
Digital Asset Regulation Changes
The relaunch of staking services in the US, despite previous SEC crackdowns, may signal shifting regulatory conditions. President Donald Trump’s return to the White House brings a crypto-focused policy agenda aimed at establishing clearer rules for the digital asset industry. Kraken's decision to reintroduce staking could indicate progress toward regulatory clarity regarding yield-generating services.
The US cryptocurrency market may expect further regulatory changes as similar services return and authorities continue discussions on regulatory frameworks for the industry.
