CoinVoice has recently learned that the crypto industry alliance is calling on the U.S. SEC to provide clear principled guidance on staking activities. The Crypto Currency Innovation Committee (CCI) has requested in an open letter that the SEC clarify that staking is not an investment activity and suggest that it remains consistent with the SEC's previous positions on mining, stablecoins, and meme coins. The alliance is supported by companies such as Consensys, Kraken, Ava Labs, and Galaxy, emphasizing that staking is a technological mechanism used to secure blockchain networks, rather than an investment scheme.
During the staking process, users participate in validating transactions and protecting the network by locking up tokens, thereby earning rewards. The alliance urges the SEC to issue a statement clarifying that staking and related services do not fall under securities regulation and proposes industry standards for staking services to ensure transparency and user control.
The letter from the Crypto Innovation Committee also proposed a framework for staking service providers, including user disclosures, reward distribution transparency, and user control over staked assets. [Original link]