U.S. cryptocurrency exchange Kraken has reportedly agreed to close up shop on its crypto staking operation and pay a $30 million fine to the U.S. Securities and Exchange Commission. This comes shortly after the news that the SEC was probing the exchange, and rumors from Coinbase CEO Brian Armstrong that the SEC was looking to "get rid of crypto staking in the U.S. for retail investors".According to the SEC, Kraken had failed to register its staking-as-a-service program, which had generated $147 million in revenue.
This is not Kraken's first run-in with authorities, after paying a $360,000 fine to OFAC in November for sanctions violations.
