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Live Trading News > Blog > 2023 > Kraken Discontinues US Staking
2023

Kraken Discontinues US Staking

Ivy Heffernan
Last updated: February 10, 2023 2:10 am
Ivy Heffernan
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The SEC in the US have charged Kraken with offering unregistered securities, fining them with a $30 million debt to settle with the Securities and Exchange Commission (SEC).

“The complaint alleges that Kraken touts that its staking investment program offers an easy-to-use platform and benefits that derive from Kraken’s efforts on behalf of investors, including Kraken’s strategies to obtain regular investment returns and payouts,” the SEC release said.

All non US clients will remain unaffected.

“Today’s action should make clear to the marketplace that staking-as-a-service providers must register and provide full, fair and truthful disclosure and investor protection.” – SEC Chair Gary Gensler.

To speak to a professional on Crpyocurrency, contact KXCO.IO.

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By Ivy Heffernan
Executive Assistant for KXCO. 4+ years in rigorous marketing positions. Experienced writer, and part time digital designer. Thorough experience in web design and SEO. Early crypto investor and enthusiast. Entrepreneurial mindset with a degree in Business Economics
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