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Kraken Reintroduces Staking in the U.S. After Two Years
In a significant move, Kraken has relaunched its staking service for customers in the United States. This development comes after nearly two years of suspension due to regulatory issues with the U.S. Securities and Exchange Commission (SEC). The reintroduction of staking in 37 states and two U.S. territories marks a crucial step forward in the crypto-friendly environment fostered by the new administration.
Staking, an innovative approach to passive income for cryptocurrency investors, has been relaunched on Kraken’s platform after agreeing to pay a $30 million fine as part of the settlement with the SEC.
How Does Staking Work on Kraken?
As mentioned earlier, Kraken is offering a “bonded” staking model. This means that users are required to lock their tokens for a specific period. The locked assets will be delegated to validators who are responsible for validating transactions and generating new blocks on the blockchain. In return, users will receive rewards minus a small fee charged by the platform. Apart from Ethereum (ETH) and Solana (SOL), other assets like Polkadot (DOT) and Cardano (ADA) will also be available for staking.
The relaunch of the service represents a significant step forward in enabling U.S. clients to actively participate in blockchain network security, aligning with global crypto market trends.
In conclusion, Kraken’s decision to reintroduce staking services in the United States marks a crucial shift in regulatory environment and will undoubtedly impact the adoption rate of this innovative form of passive income in the country.
References:
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Source: crypto-economy.com
