The U.S. Securities and Exchange Commission (SEC) has just announced new guidance clarifying that some liquid staking activities in cryptocurrency are not considered securities offerings.
This announcement marks an important step in clearly regulating the U.S. cryptocurrency market, helping developers, staking service providers, and investors to identify legal standards more clearly.
MAIN CONTENT
The SEC asserts that not every liquid staking is a securities offering.
The guidance is based on a detailed assessment of 'facts and specific circumstances.'
The SEC Chairman's statement emphasizes new transparency for cryptocurrency staking activities.
How has the SEC clarified its regulations on liquid staking?
The U.S. Securities and Exchange Commission (SEC) has just issued a guidance statement from the Corporate Finance Division, outlining its views on liquid staking in the cryptocurrency sector under federal securities law.
Liquid staking allows cryptocurrency owners to 'stake' their assets via blockchain platforms or third parties. In return, they receive liquid staking Tokens as proof of ownership and earn rewards generated during the staking process. The SEC emphasizes that not all transactions related to this form are considered securities offerings when assessed on 'facts and circumstances.'
What are liquid staking Tokens and why are they not always considered securities?
Liquid staking Tokens represent ownership rights on staked assets and the associated rewards but do not equate to securities issuance under SEC law.
Specifically, the SEC states that activities involving the receipt and issuance of liquid staking Tokens in the mentioned circumstances do not violate section 2(a)(1) of the Securities Act of 1933 or section 3(a)(10) of the Securities Exchange Act of 1934. Each case needs to be evaluated separately based on factual details.
“The staff's announcement today regarding liquid staking marks an important step in clarifying our views on cryptocurrency asset activities that fall outside the SEC's jurisdiction.”
Paul Atkins, SEC Chairman, 2025
What does this guidance mean for developers, staking providers, and cryptocurrency investors?
Previously, the liquid staking sector operated in a legal gray area due to the lack of clear guidance from regulatory authorities. The SEC's new guidance helps stakeholders better understand the scope of securities laws, reducing legal risks.
This promotes innovation in blockchain technology and staking services while protecting investors' interests as they have a clear legal basis to assess the legality of staking products in the cryptocurrency market.
Frequently Asked Questions
What is liquid staking?
Liquid staking is the process of staking cryptocurrency through a platform or service that provides Tokens as proof of ownership and can be traded.
Are liquid staking Tokens considered securities?
Not necessarily; this depends on each specific case and factual details to determine under federal securities law.
How does the SEC's guidance affect investors?
Helps investors understand the applicable laws for liquid staking, reduces legal risks, and increases market transparency.
Is liquid staking regulated by the SEC?
Only specific cases deemed as securities are under SEC jurisdiction; not all liquid staking falls under this.
Who issued this SEC guidance?
The Corporate Finance Division of the SEC aims to clarify the stance on liquid staking in cryptocurrency.
Source: https://tintucbitcoin.com/sec-xac-nhan-liquid-staking-khong-phai-chung-khoan/
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