Kraken Agrees to Pay $30M to SEC

Crypto exchange Kraken has settled charges filed by the US Securities and Exchange Commission (SEC), according to the announcement made on the website of the regulator.

According to a Bloomberg source, the regulator had started an investigation into the platform. According to a February 9 press release, the agency’s attention was drawn to a staking program that Kraken “did not register” for offering and selling.

The chairman of the SEC, Gary Gensler, said:

“Today’s action should send a message to the market that staking as a service providers must register and provide full, honest and truthful disclosure and investor protection.”

The trading platform has not admitted or denied the allegations, but has agreed to terminate the program and pay $30 million in fines.