Crypto Exchange Kraken Launches New Staking Business for Ethereum, Solana
Top American crypto exchange Kraken has introduced a new staking product for U.S. customers, nearly two years after facing legal action over a similar service. Kraken, which settled with the SEC in February 2023, emphasized that this new offering differs from the previous one, stating it provides only administrative support by connecting client tokens to the blockchain network. The new service will allow clients in 37 states and two territories to stake digital assets through Kraken Pro. Staking involves locking cryptocurrency to maintain the blockchain and earn rewards over time. Despite past controversies, including a $30 million fine from the SEC for offering unregistered securities, Kraken remains committed to providing staking services. A Kraken representative expressed excitement about the product's launch, allowing clients to support blockchain security while earning rewards. The regulatory environment may shift further under the new leadership following recent elections, which Kraken hopes will favor the digital asset industry.
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