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Kraken has relaunched on-chain crypto staking for US customers in 39 states, marking a significant recovery after the halt imposed by the SEC in 2023. Users will be able to stake 17 assets, including ETH, SOL, DOT, and ADA.
Let’s see all the details in this article.
Kraken relaunches crypto staking for US customers
After almost two years of restrictions, Kraken has finally reactivated the staking service for customers in the United States.
The decision comes at a time when the criptovalute sector is experiencing a change in regulation, marking an improvement in conditions for American investors.
Starting today, users in 39 states will once again be able to access staking through Kraken Pro.
This function allows investors to lock certain digital assets for a set period, contributing to the security and stability of the involved blockchains.
According to what was stated by Kraken, the new service has been redesigned to comply with current regulations without compromising the user experience.
In February 2023, Kraken had to discontinue its staking service in the United States following an agreement with the Securities and Exchange Commission (SEC).
The exchange paid a fine of 30 million dollars for offering, according to the agency, unregistered securities through its stacking-as-a-service platform.
This event has dealt a severe blow to the crypto market in the United States, with many companies forced to revise their strategies to comply with regulations.
However, with the recent change in administration and a greater openness towards cryptocurrencies, Kraken has managed to reintroduce staking. This, albeit with a more solid regulated structure.
Mark Greenberg, Global Head of Consumer at Kraken, stated that the company has worked extensively to bring staking back to the United States in compliance with current regulations.
According to Greenberg, this move not only represents an advantage for Kraken, but also for the entire American crypto ecosystem.
Available assets and security measures
With the return of staking, Kraken offers its customers the opportunity to stake 17 different assets. Among these, we see Ethereum (ETH), Solana (SOL), Polkadot (DOT), and Cardano (ADA).
These assets can be locked for a variable period of time depending on the reference blockchain. Additionally, Kraken has introduced insurance for the protection of assets in staking.
This service, provided by a third-party partner, ensures greater security for users, reducing the risks associated with the loss of funds.
This measure represents an important step forward compared to the previous staking offer, making the service more reliable for U.S. investors.
The decision by Kraken to reactivate staking is seen as a positive signal for the entire US crypto market. In recent years, restrictive regulation has pushed many companies to move abroad, limiting opportunities for American investors.
However, the context is changing rapidly. With a greater openness from the government towards cryptocurrencies and a renewed interest from financial institutions, the United States could once again become a nerve center for blockchain innovation.
The initiative by Kraken could also encourage other exchanges to follow suit, contributing to a wider adoption of regulated staking in the country.
This could bring benefits both to users, who will be able to generate returns from their digital assets, and to the blockchains that depend on staking for network security.