According to Deep Tide TechFlow's report on May 29, the Corporate Finance Division of the U.S. Securities and Exchange Commission (SEC) issued a statement stating that staking activities in proof-of-stake (PoS) networks do not constitute the issuance and sale of securities.

The statement covers self-staking, non-custodial third-party staking, and custodial staking arrangements, concluding that these activities are of a management or administrative nature and do not involve the entrepreneurial or managerial efforts of others, thus not meeting the Howey Test requirements.

The statement does not cover other forms of staking, such as liquid staking, re-staking, or liquid re-staking.