Kraken Shuts Down Cryptocurrency Staking Services in the US

Kraken, the international exchange based in the United States, has reached an agreement with the SEC to shut down its staking service for users residing in the country and pay a fine of USD $30 million. This measure comes amid a series of actions that the Securities and Exchange Commission (SEC) is contemplating to regulate staking programs.

Payment of USD $30 Million Fine

Kraken has agreed to pay a $30 million fine to the SEC, as part of an agreement to settle fees associated with the unregistered securities offering. This was published in a statement issued by the regulator.

Meeting with the SEC to Establish Course of Action

The SEC will have a meeting to determine the course of action to follow in relation to the staking programs. This was mentioned in a report by CoinDesk, where it is indicated that the vote to establish the measures to follow will take place at 4:00 pm (ET).

Agreement with Kraken

According to the official report issued by the SEC, Kraken would have agreed to close its staking service for users in the US This is as a result of their meetings with the regulator, with the aim of avoiding possible conflicts.

In short:

• Kraken has reached an agreement with the SEC to shut down its staking programs for users in the United States.
• The exchange will also pay a $30 million fine.
• The SEC will hold a meeting to vote on a course of action on these issues.
• The goal is to avoid conflicts with the regulator.