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Gary Gensler Hits Kraken with a $30 Million Fine | EP 674

Simply Bitcoin

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Kraken to Shut Down US Crypto Staking Operations to SEC Charges

Kraken has agreed to shut down its cryptocurrency staking operations, according to an industry source briefed on the matter. Kraken offered a 20% APY promising to send customers staking rewards twice per week. The SEC confirmed Kraken would shut down its staking services for US customers after the publication of the article. Gary Gensler: This is going to force these exchanges overseas. But interestingly, they're going to still offer the same product internationally abroad outside of the United States.

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