Critics say the US regulator’s new stance on crypto staking contradicts past enforcement efforts and court rulings, deepening confusion over how digital assets are regulated.
The US Securities and Exchange Commission (SEC) is facing mounting criticism from current and former officials over its evolving stance on crypto staking services.
On May 29, the SEC’s Division of Corporation Finance issued new guidance on crypto staking services, claiming that certain offerings may not constitute securities and effectively exempting proof-of-stake blockchains from registration requirements under the Securities Act.
However, the SEC’s fresh interpretation may diverge from several federal court rulings, according to former SEC chief of Internet Enforcement, John Reed Stark.
In a statement on X, Stark argued the Commission’s latest move contradicts judicial findings in high-profile cases against crypto exchanges Binance and Coinbase, where judges previously allowed allegations that staking products qualified as securities under long-standing legal precedent.
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