On Thursday, cryptocurrency exchange Kraken announced the reintroduction of on-chain staking for its US customers in 39 states. This is a significant development in the regulatory landscape for digital assets.
Through Kraken Pro platform, customers can now stake 17 different cryptocurrencies such as Ethereum (ETH), Solana (SOL), Polkadot (DOT), and Cardano (ADA). Kraken also assures the safety of staked assets through third-party slashing insurance.
Kraken global head of consumer, Mark Greenberg, described the launch of this new staking product in the US. as a positive development for Kraken and the entire US. crypto space. This move also reflects a change in regulatory attitude in the US, especially with the current administration’s amended approach to SEC enforcement.
In 2023, the SEC accused Kraken of offering unregistered securities through its staking service, leading to their $30 million settlement with the regulator and the subsequent suspension of staking for US clients.
