The Securities and Exchange Commission (SEC) announced a settlement with the digital assets/cryptocurrency exchange Kraken whereby Kraken agreed to cease offering or selling securities through its crypto asset staking services, and agreed to pay a penalty of $30 million (comprising disgorgement, prejudgment interest, and civil penalties).

The announcement (see https://www.sec.gov/news/press-release/2023-25) has garnered some criticism, including comments from SEC Commissioner Hester Peirce, that the staking ban was “not a fair way of regulating”. (see https://decrypt.co/121029/sec-commissioner-peirce-kraken-staking-ban-not-fair-way-regulating)