Cryptocurrency exchange Kraken has resumed its staking services for U.S. customers in 39 states, nearly two years after halting the program as part of a $30 million settlement with the Securities and Exchange Commission (SEC). The relaunch, announced Tuesday, supports 17 digital assets, including Ethereum (ETH), Solana (SOL), Polkadot (DOT), and Cardano (ADA).
Notably, Kraken’s revamped service, available via its Kraken Pro platform, introduces bonded staking, which requires users to commit tokens for predetermined periods based on network requirements. The exchange also offers slashing insurance, a third-party safeguard against penalties for validator misconduct.
The move follows Kraken’s February 2023 settlement with the SEC, which accused the platform of offering unregistered securities through its staking program. Under the agreement, Kraken discontinued staking for U.S. clients and paid a $30 million fine.
Kraken Staking: Features and Regulatory Context
Kraken emphasized competitive annual percentage returns (APRs) and enhanced security measures in its relaunch. The service is restricted to eligible states, excluding New York and Washington, with a full list available on Kraken’s website.
Staking rewards vary by asset, though Kraken did not disclose specific APRs. The exchange stated that U.S. clients’ funds will remain segregated from corporate assets, a measure aimed at bolstering consumer protection.
The SEC’s 2023 enforcement action against Kraken marked a broader crackdown on crypto staking services under the previous administration. Regulatory shifts under the current White House have signaled a more favorable stance toward digital assets, though the SEC has not yet issued new guidelines for staking.
Analysts view the relaunch as a test of evolving regulatory tolerance for yield-generating crypto products. Staking services remain contentious, with the SEC maintaining that certain offerings constitute unregistered securities.
Kraken’s decision aligns with growing demand for passive crypto income options. Meanwhile, competitors like Coinbase continue to offer staking in the U.S., though under heightened regulatory scrutiny.
