# Kraken Discontinues US Staking

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Last modified: 2023-02-10

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By Ivy Heffernan · 2023-02-10
Tags: Top Stories, Crypto, Featured, 2023, Ivy Heffernan
Signed: no (published before platform launch).
Nothing in this article is investment advice.

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.

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