TechFlow news: The U.S. Securities and Exchange Commission (SEC) announced on Thursday that cryptocurrency exchange Kraken will "immediately" cease its staking-as-a-service platform offered to U.S. customers and will pay a $30 million penalty to settle allegations of offering unregistered securities. The SEC stated that Kraken's parent companies, Payward Ventures, Inc. and Payward Trading Ltd., will terminate their staking services and programs, which have been offered to the public since at least 2019.
In a blog post, Kraken said it will automatically unstake assets other than Ethereum for U.S. customers; Ethereum staking will be unstaked after the Shanghai upgrade takes effect on the Ethereum network. U.S. customers will no longer be able to stake new assets, including Ethereum, while non-U.S. users will not be affected.
