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

One of the top US-based crypto exchanges is launching a revamped crypto staking program two years after the U.S. Securities and Exchange Commission (SEC) forced a similar initiative to shutter.

According to Kraken, US clients in 37 states and two territories can stake 17 assets onchain starting today.

Kraken clients 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 other Proof-of-Stake tokens through the exchange.

Says Mark Greenberg, Kraken Global Head of Consumers, of the staking re-launch,

“Launching this new staking product in the US is an overwhelmingly positive development, not just for Kraken but also for the entire US crypto space.

We are excited to bring back a brand new product enabling US clients to resume staking with Kraken and play a significant role in bolstering the underlying security of blockchain networks.”

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

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