Explainer-What is ‘staking,’ the cryptocurrency practice in regulators’ crosshairs?

By Hannah Lang and Elizabeth Howcroft (Reuters) – Crypto companies offering their customers eye-popping yields through so-called “staking” products are earning the ire of the U.S. securities regulator who says such services should be registered. Crypto exchange Kraken on Feb. 9 agreed to shutter its staking service for U.S. customers and pay $30 million in penalties, as part of a settlement with the regulator, and investors are worried a broader ban on the practice could follow. Here’s what you need to know about staking: What is staking? Staking is a process in which cryptocurrency holders vo…