{"id":551217,"date":"2023-02-13T08:59:31","date_gmt":"2023-02-13T05:59:31","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/secs-crypto-staking-crackdown-has-uncertain-consequences-for-defi-lido-finance\/"},"modified":"2023-02-13T08:59:31","modified_gmt":"2023-02-13T05:59:31","slug":"secs-crypto-staking-crackdown-has-uncertain-consequences-for-defi-lido-finance","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/secs-crypto-staking-crackdown-has-uncertain-consequences-for-defi-lido-finance\/","title":{"rendered":"# SEC&#8217;s crypto staking crackdown has uncertain consequences for DeFi: Lido Finance"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a27821002ad9\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a27821002ad9\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/secs-crypto-staking-crackdown-has-uncertain-consequences-for-defi-lido-finance\/#%E2%80%9D_SECs_crypto_staking_crackdown_has_uncertain_consequences_for_DeFi_Lido_Finance_%E2%80%9C\" >&#8221; SEC&#8217;s crypto staking crackdown has uncertain consequences for DeFi: Lido Finance &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_SECs_crypto_staking_crackdown_has_uncertain_consequences_for_DeFi_Lido_Finance_%E2%80%9C\"><\/span>&#8221; SEC&#8217;s crypto staking crackdown has uncertain consequences for DeFi: Lido Finance &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDIvOTg0OWE5ZTktMDZhMi00ZjczLWJmZTQtYjcyNTM0Zjg1MmMzLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4bbf85c5>A crackdown by the United States securities regulator on crypto staking could have unintended consequences for decentralized finance (DeFi), according to the head of business development at Lido DAO.\u00a0 \u00a0<\/p>\n<p>In a Feb. 13 Bloomberg <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-12\/biggest-staker-lido-dapps-warns-on-defi-challenges-after-sec-action-on-kraken?srnd=infotech#xj4y7vzkg\">report<\/a> Jacob Blish, who leads business development at Lido&#8217;s decentralized autonomous organization (DAO), said the most significant risk would be if the SEC eventually concluded that no U.S. citizen can interact with crypto staking services, including protocols.<\/p>\n<blockquote><p>&#8220;The biggest risk I personally see as a U.S.-based person is if they come down and say you can no longer even interact with or contribute to these types of protocols.&#8221;<\/p><\/blockquote>\n<p>&#8220;Then me, as a contributor to the DAO, does that mean I can&#8217;t work on Lido anymore? Do I have to go leave and do something else?&#8221; Blish added. <\/p>\n<p>The governance of Lido is managed by the Lido DAO with members from all over the world voting on critical decisions that steer the protocol.<\/p>\n<p>In the wake of the SEC launching lawsuits and other enforcement actions against crypto firms, Blish joined a growing number of people in the crypto industry calling for more transparency around regulations and rules going forward, saying:<\/p>\n<blockquote><p>&#8220;The most dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ointing thing is we as an industry keep getting asked for transparency, but then me as a U.S. citizen, I get no transparency and how [regulator&#8217;s] decision-making process is going.&#8221;<\/p><\/blockquote>\n<p>On Feb. 9 the SEC charged crypto exchange Kraken with &#8220;failing to register the offer and sale of their crypto-asset staking-as-a-service program&#8221; prompting the exchange to halt offering staking to its U.S. customers. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I honestly hope that somebody proves, in court, that there is a legal, user-friendly version of custodial staking that can be offered to US consumers. It\u2019ll be a brutal, lengthy, expensive fight and a massive distraction but the industry and the USA will be extremely grateful. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/lhZPxykznD\">https:\/\/t.co\/lhZPxykznD<\/a><\/p>\n<p>\u2014 Jesse Powell (@jespow) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/jespow\/status\/1623816606961770504?ref_src=twsrc%5Etfw\">February 9, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The SEC&#8217;s latest action saw Coinbase co-founder &amp; CEO, Brian Armstrong, defend staking in a Feb. 9 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> post, saying it would be \u201ca terrible path for the U.S.\u201d if a staking ban was to happen.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Paxos facing SEC lawsuit over Binance USD \u2014 Report<\/em><\/strong><\/p>\n<p>Paul Grewal, Chief Legal Officer at Coinbase built on Armstrong&#8217;s tweets on Feb. 10 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/iampaulgrewal\/status\/1623795960806797313\">asking<\/a> for clearer rules for the industry. <\/p>\n<p>&#8220;The public shouldn&#8217;t have to parse complaints in federal court to understand what a regulator expects,&#8221; Grewal said. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"nifty_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/sec-s-crypto-staking-crackdown-has-uncertain-consequences-for-defi-lido-finance\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; SEC&#8217;s crypto staking crackdown has uncertain consequences for DeFi: Lido Finance &#8220; A crackdown by the United States securities regulator on crypto staking could have unintended consequences for decentralized finance (DeFi), according to the head of business development at Lido DAO.\u00a0 \u00a0 In a Feb. 13 Bloomberg report Jacob Blish, who leads business development&#8230;<\/p>\n","protected":false},"author":1,"featured_media":551218,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/9849a9e9-06a2-4f73-bfe4-b72534f852c3.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74868,74891,74876,74898,133582,117],"class_list":["post-551217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-defi","tag-ethereum","tag-proof-of-stake","tag-sec","tag-staking","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/551217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=551217"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/551217\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/551218"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=551217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=551217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=551217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}