Illustration by Alex Castro / The Verge
Kraken will end its crypto staking program in the US and pay $30 million in penalties as part of a settlement with the Securities and Exchange Commission. The regulator charged the company with selling unregistered securities through its “crypto asset staking-as-a-service program.” It’s been clear for a while now that the SEC was planning to clamp down on crypto yield programs. In 2021, it got into a spat with Coinbase over the exchange’s plans to launch a lending feature in the...
