Crypto Staking Activities Declared Not Subject to U.S. Securities Law by SEC
The SEC's Division of Corporation Finance issued a statement clarifying that certain crypto staking activities do not violate U.S. securities laws. Key points include:
- Staking activities, including those by node operators and validators, are not considered the offer or sale of securities.
- This aligns staking with mining, which also does not implicate securities laws.
- Companies can provide ancillary services related to staking without being classified as asset managers.
- The statement is seen as an important update, especially following previous enforcement actions against staking services.
- It may expedite the approval process for applications related to spot ether ETFs.
- The statement is narrowly tailored and does not hold legal force, addressing only specific activities involving Covered Crypto Assets that lack intrinsic economic rights.
This development could encourage more participation in staking from U.S. companies.