tl;dr
Kraken has relaunched a compliant staking service for US clients after settling with the SEC. The offering allows users in 37 states and two territories to stake digital assets such as Ethereum, Solana, Polkadot, and Cardano. This move follows a $30 million fine paid by Kraken for failing to registe...
Kraken has relaunched a compliant staking service for US clients after settling with the SEC. The offering allows users in 37 states and two territories to stake digital assets such as Ethereum, Solana, Polkadot, and Cardano. This move follows a $30 million fine paid by Kraken for failing to register its previous staking service. The new staking model is fully compliant with regulations and allows assets staked via Kraken Pro to be delegated to validators, with rewards passed back to users. This development reflects a shift in how crypto firms approach compliance while maintaining staking as a core feature.
Kraken announced the launch of a new on-chain staking product for US clients, marking a significant return to staking services in select states after facing regulatory scrutiny. The offering will allow users in 37 states and two territories to stake digital assets such as Ethereum (ETH), Solana (SOL), Polkadot (DOT), and Cardano (ADA), according to a Jan. 30 announcement. Kraken said it plans to expand access as permitted by state regulations. This move restores access to staking for a broad segment of Kraken’s US users, aligning with the global availability of similar products.
Kraken’s announcement comes nearly a year after the company settled with the Securities and Exchange Commission (SEC), which accused it of failing to register its previous staking service. As part of that settlement, Kraken paid a $30 million fine and ceased its staking services for US customers. The new product follows a different model, where assets staked via Kraken Pro are delegated to validators that process transactions and secure blockchain networks. Rewards, minus fees, are passed back to users. Kraken has positioned this service as fully compliant with existing regulations, though specific details on how it differs structurally from the prior iteration were not disclosed.
Kraken was one of the first centralized exchanges to introduce on-chain staking in 2019 and has since integrated additional staking solutions, including Ethereum restaking via EigenLayer. The company said its revamped U.S. staking service helps restore “parity” with the staking options available to its international users. Regulatory concerns have clouded the future of staking services in the US, with authorities questioning whether they constitute unregistered securities offerings. Kraken’s ability to resume staking in much of the US signals a shift in how crypto firms intend to nag compliance while maintaining staking as a core feature. The company emphasized that staking involves inherent risks, including potential loss from slashing penalties, bonding periods, and asset depreciation.