TechFlow News — Despite a challenging regulatory environment, Kraken is moving forward with plans to launch its own bank. "Kraken Bank is coming very soon," revealed Marco Santori, Kraken's chief legal officer, on The Scoop podcast.
Santori declined to elaborate on the previous settlement agreement with the SEC, but noted that staking accounts for only a small portion of Kraken's revenue. He added that Kraken neither admitted nor denied any allegations in the complaint, but emphasized that Kraken's banking relationships remain secure.
On February 10, the U.S. SEC announced that Kraken would "immediately" cease its staking-as-a-service platform for U.S. customers and pay a $30 million penalty to settle charges related to offering unregistered securities.Original link
