Archive:February 13, 2023

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Crypto Platform Kraken Pays $30 Million and Ceases Staking Services to Settle SEC Charges

Crypto Platform Kraken Pays $30 Million and Ceases Staking Services to Settle SEC Charges

By Drew Hinkes, Carly Howard, and Judie Rinearson

The Securities and Exchange Commission (SEC) announced a settlement with the digital assets/cryptocurrency exchange Kraken whereby Kraken agreed to cease offering or selling securities through its crypto asset staking services, and agreed to pay a penalty of $30 million (comprising disgorgement, prejudgment interest, and civil penalties).

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