Kraken has resumed its staking services for US customers after nearly two years of regulatory restrictions.
The relaunch follows a political shift that saw crypto policies loosen under the new administration.
Kraken’s new staking program is now available in 39 states and supports 17 cryptocurrencies.
After nearly two years of regulatory hurdles, Kraken, a leading global cryptocurrency exchange, has officially resumed its staking services for US customers after shutting them down in February 2023.
According to an official on Thursday, January 30, the company, which pride’s itself as the longest standing exchange, said it has introduced a new on-chain staking product for US clients in 39 states across the country.
Regulatory Shifts Open Doors for Kraken
The relaunch follows Donald Trump’s as the 47th President of the United States on January 20. Under the previous administration, Kraken was forced to halt its staking services as part of a $30 million with the Securities and Exchange Commission (SEC), which accused the firm of offering unregistered securities.
At the time, the SEC, led by former chair Gary Gensler, took an aggressive stance against crypto-related services, making it increasingly difficult for exchanges to operate staking programs in the US. However, with the transition to a more crypto-friendly administration, the regulatory environment has started to shift.
Notably, Gensler stepped down on the same day as Trump’s inauguration, paving the way for policy changes that favor digital assets.
With Gensler gone, Kraken has re-entered the staking market with new products tailored to meet the needs of its clients. According to the announcement, the services are, however, restricted only those in eligible states.
The company has added support for different cryptocurrencies, allowing users to stake up to 17 digital assets including Bitcoin Ethereum Solana Cardano and Polkadot . These assets can be staked through Kraken Pro, the exchange’s advanced trading platform.
Kraken’s Commitment to Security and Compliance
Kraken said that crypto traders in eligible states will also be able to participate in what it called “bonded staking,” which involves locking up or “bonding” crypto assets to the network for a specific period of time.
The company’s global head of consumer Mark Greenberg described the exchange’s relaunch of new staking services as an “overwhelmingly positive development.”
“Launching this new staking product in the US is an overwhelmingly positive development, not just for Kraken, but also for the entire US crypto space. We are excited to bring back a brand-new product enabling US clients to resume staking with Kraken and playing a significant role in bolstering the underlying security of blockchain networks,” said Greenberg.
“Launching this new staking product in the US is an overwhelmingly positive development, not just for Kraken, but also for the entire US crypto space. We are excited to bring back a brand-new product enabling US clients to resume staking with Kraken and playing a significant role in bolstering the underlying security of blockchain networks,” said Greenberg.
Meanwhile, apart from re-entering the crypto staking market in the US, Kraken has taken security measures to safeguard user’s assets. The exchange confirmed that all staked assets are covered by a third-party insurance provider, offering an additional layer of protection against potential risks.
Kraken first entered the staking space in 2019, becoming one of the first centralized exchanges to offer staking services. The company positioned its staking program as a way for users to contribute to the security of Proof-of-Stake (PoS) blockchains like Ethereum and Solana while earning passive rewards.
More recently, in 2024, Kraken joined a growing list of crypto platforms enabling users to restake ETH, a move that supports projects building on EigenLayer, a protocol designed to enhance Ethereum’s security model.
