Kraken crypto exchange restarted its crypto staking services, raising a very big question about SEC’s crypto-hater stance under new leadership.
Kraken is a popular crypto trading exchange, providing highly secured crypto trading & other related services. In early 2023 Kraken exchange struggled badly because of the regulatory action by the American securities regulatory body SEC over the company’s crypto staking service. At the time, Kraken was struggling with some financial downfall, which is why it blindly decided to shut down staking services & paid a $30 million fine. Later Kraken CEO regretted this decision.
On 30 Jan 2025, Kraken exchange officially announced the relaunch of crypto staking services in the 37 US States & 2 new jurisdictions.
Kraken Global Head of Consumer Mark Greenberg said that the relaunch of this service is not only good news for Kraken exchange but also for the entire crypto space, as the regulatory landscape changed positively.
Relaunch of staking service is currently open for supporting 17 crypto assets, including $ETH, $SOL, $DOT and $ADA.
However Kraken executives failed to talk about the Kraken vs SEC fight over crypto staking services but many crypto experts called that fight and said that it is a sign that the SEC body now doesn’t have any type of problem with crypto staking services, all credit goes to the new US president Donald Trump who appointed Mark Uyeda as a new ProCrypto acting chairman of the SEC body.
Crypto staking & benefits
Crypto staking is a method to generate passive income by directly holding crypto assets on the corresponding blockchain network.
The crypto staking method is somewhat complicated to handle, so some third-party crypto companies provide direct staking services, here, Kraken provides on-chain staking services directly but in the easiest way so that every person who wants to participate in staking can easily go without any hurdles of complexity.
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