SEC Chair Supports DeFi, Clarifies Regulations for Ethereum Staking
SEC Chair Paul Atkins expressed support for decentralized finance (DeFi) at a recent roundtable, stating:
- DeFi aligns with American values of economic freedom and innovation.
- Outdated regulations hinder blockchain growth and discourage U.S. users and builders.
- Operating as a validator, miner, or staking service provider is exempt from federal securities laws.
- Publishing code for staking or wallets does not classify as broker activity.
This clarification benefits Ethereum, which has over $68 billion in total value locked, representing more than half of the DeFi market. The SEC plans to provide clearer guidance and may amend rules to better suit on-chain financial systems. Atkins suggested an "innovation exemption" for new crypto projects, aiming to position the U.S. as a leading crypto hub.
The Ethereum community reacted positively, with former developer Eric Conner noting the clarity brought to staking and open-source infrastructure. Despite an 8% price rise, Ethereum remains below the $2,800 resistance level.