Coinbase Receives Bad News

Published by
The Street

By Luc Olinga The SEC just forced cryptocurrency exchange rival Kraken to shut down its U.S. staking service and pay a $30 million fine. The crypto industry has just received a cold shower. The U.S. Securities and Exchange Commission said on Feb. 9 that it settled with Kraken, with the cryptocurrency exchange agreeing to pay a $30 million fine. But the most striking thing about the regulatory agreement is that Kraken, one of the main platforms on which investors can buy and sell cryptocurrencies in the U.S., has also agreed to close its American staking service. “To settle the SEC’s charges, t…

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