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Kraken hit with $30m fine and ceases crypto staking program

Woman holding mobile phone, buying crypto in the Kraken mobile app
Photo: Kraken

The SEC is cracking down on the San Francisco-based exchange over an unregistered crypto offering with “outsized returns”.

The crypto exchange Kraken has once again been fined for regulatory failings. Payward Ventures, Inc. and Payward Trading Ltd. – both known as Kraken – have been charged by the SEC with failing to register the offer and sale of a crypto asset staking-as-a-service program. The program enabled investors to

“Whether