Kraken Resumes Staking Services for US Customers After Regulatory Changes
Kraken has resumed its staking services for US customers after nearly two years of regulatory challenges, having previously halted these services in February 2023. The new on-chain staking product is available to clients in 39 states.
Key Developments
- The relaunch follows Donald Trump's inauguration as President on January 20, which coincided with the resignation of former SEC chair Gary Gensler.
- Kraken's previous suspension stemmed from a $30 million settlement with the SEC over unregistered securities.
- The exchange now supports staking for up to 17 cryptocurrencies including Bitcoin, Ethereum, Solana, Cardano, and Polkadot.
- Users can participate in "bonded staking," locking assets for a specified period.
- All staked assets are insured through a third-party provider for added security.
- Kraken first launched its staking services in 2019, focusing on contributing to the security of Proof-of-Stake blockchains.
- In 2024, Kraken began allowing users to restake ETH to support EigenLayer projects aimed at enhancing Ethereum’s security model.