Kraken, a major US cryptocurrency exchange, is bringing back its crypto staking program for US customers. This comes two years after the Securities and Exchange Commission (SEC) forced the company to shut down a similar service.
Staking Returns to 37 States
Starting today, Kraken clients in 37 states and two US territories can stake 17 different crypto assets directly on the blockchain. This includes popular coins like Ethereum (ETH), Solana (SOL), and Cosmos (ATOM), along with 14 others using Proof-of-Stake technology. The list of eligible states includes 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, the District of Columbia, and Puerto Rico.
Kraken’s Positive Outlook
Kraken’s Global Head of Consumers, Mark Greenberg, expressed excitement about the relaunch, calling it a positive development for both Kraken and the broader US crypto market. He highlighted the opportunity for US clients to participate in securing blockchain networks through staking.
A Costly Past
This relaunch follows a 2021 SEC order that forced Kraken to end its previous staking-as-a-service program and pay a $30 million settlement. The new program aims to avoid similar regulatory issues.
Disclaimer: This information is for general knowledge only and does not constitute financial advice. Investing in cryptocurrency is risky, and you could lose money. Always do your own research before making any investment decisions.
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