The settlement marks the regulator's first crackdown on staking, a common service offered at both centralised and decentralised crypto exchanges, including most of the major exchanges such as Coinbase and Binance.
abc.net.au/news/us-sec-targets-crypto-staking-with-kraken-crackdown/101956436Crypto exchange Kraken has agreed to shut down its cryptocurrency staking service in the United States and pay $US30 million in penalties to settle charges that it failed to register the program, in a move that could cause headaches for platforms with similar offerings.
Kraken has agreed to pay $US30 million in fines for failing to register its staking program, and will shut it down for US users It applies to blockchain systems that use a "proof of stake" mechanism for validation, as opposed to the older, much more energy-intensive "proof of work" mechanism in which many computers across the world compete to be the fastest to solve a cryptographic equation.
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