The U.S. Securities and Exchange Commission (SEC) stated that staking, under certain conditions, does not violate American securities laws.
The document prepared by the Corporate Finance Department is not a legally binding guideline but represents an analysis by the regulator.
Experts told CoinDesk that the statement effectively allows companies to provide staking services, including pools, custodial storage, and other related services. The SEC will not pursue individuals or companies engaged in such activities.
According to the statement, operators of nodes, validators, custodians, delegates, nominators, and organizations engaged in staking their own and client assets fall under this definition.
According to Figment's CEO Lorien Geybla, the main advantage of the document is the legalization of various types of activities that American companies may have previously feared.
"They included some ancillary staking activities. For example, we provide insurance against slashing, as well as modified unbonding periods. According to [SEC representatives], this does not mean that you are an asset manager as a staking provider," he added.
Geybla noted that companies can now offer such services and even staking pools.
Alison Mangiero from the Crypto Council for Innovation considers the Commission's initiative a gradual but important update from the regulator.
"This confirms that stakers will be treated the same as miners. I think this is especially important, considering that under [former SEC Chair Gary] Gensler, there were many enforcement actions focused on staking as a service," she said.
In her opinion, it is telling that the statement appeared just days before the SEC's deadline to review applications for including staking in spot Ethereum ETFs.
Geybla suggested that exchange-traded fund providers would likely receive approval for staking in any case, but the regulator's statement would likely expedite this process.
A separate footnote clarifies that the document is highly specialized. It does not replace the rule-making conducted by commissioners and "has no legal force."
Another footnote explains:
"This statement addresses only certain types of activities related to protected crypto-assets that do not have internal economic properties or rights, such as earning passive income or transferring rights to future income, profits, or assets of a commercial enterprise."
Recall that in January, ConsenSys founder Joe Lubin noted that issuers of spot Ethereum ETFs in the U.S. are expecting the SEC to approve staking "soon."
