It is now confirmed that rumors that Coinbase CEO heard is true!
Kraken will immediately end all on-chain staking services for U.S. clients, following of two of its subsidiaries settlement with the US Securities and Exchange concerning Kraken’s on-chain staking program.
It was reported that Kraken to pay $30 million to settle charges regarding offering of unregistered securities. SEC Chair Gary Gensler says, “Today’s action should make clear to the marketplace that staking-as-a-service providers must register and provide full, fair and truthful disclosure and investor protection.”
This news sent Crypto prices down, with BTC prices dropped to below $22000 after bullish run.
Source:
https://www.sec.gov/news/press-release/2023-25
https://blog.kraken.com/post/17619/settlement/
https://www.coindesk.com/policy/2023/02/09/us-securities-and-exchange-commission-sues-kraken-over-crypto-staking-services/
source