Kraken Settles with SEC for $30
Million Over Unregistered Staking
Program
Kraken, the San Francisco-based cryptocurrency exchange, has agreed to pay $30 million and cease offering or selling securities through crypto asset staking services or staking programs to settle a complaint by the U.S.
Securities and Exchange Commission (SEC). The SEC claims that Kraken's staking program, which started in December 2019, generated at least $147 million in net revenue for the exchange through mid-2022, with around 135,000
U.S. customers staking over $2.7
• bilion worth of tokens.
Million Over Unregistered Staking
Program
Kraken, the San Francisco-based cryptocurrency exchange, has agreed to pay $30 million and cease offering or selling securities through crypto asset staking services or staking programs to settle a complaint by the U.S.
Securities and Exchange Commission (SEC). The SEC claims that Kraken's staking program, which started in December 2019, generated at least $147 million in net revenue for the exchange through mid-2022, with around 135,000
U.S. customers staking over $2.7
• bilion worth of tokens.
JOHN SMITH