Crypto Exchange “Kraken” Settles With SEC for $30 Million

Crypto Exchange “Kraken” Settles With SEC for $30 Million


The Securities and Exchange Commission (SEC) settled a case with the cryptocurrency exchange Kraken, as it cracked down on one of its U.S. operations.
Kraken agreed to shut down its cryptocurrency staking service and paid a $30 million fine to settle charges that it failed to register the offer or sale of the program, the SEC announced on Feb. 9.
This is the first time the SEC has successfully terminated the much-used service offered by crypto exchanges, which have become very popular throughout the United States.
Staking services let customers earn a yield on their digital assets by temporarily handing their crypto tokens over to an intermediary, or …

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