Crypto’s Got Rules Now?! 😱

One gathers the SEC, in a fit of unprecedented practicality, has decided to illuminate the murky depths of cryptocurrency regulation. Liquid staking, it seems, has been deemed…tolerable. A most curious development.

The SEC Declares a Truce (of Sorts) – Clarity, Apparently, Is the New Black

The estimable Chair Atkins, and the equally discerning Commissioner Peirce, have both deigned to issue statements – imagine! – on August 5th, 2025, concerning the agency’s revised opinions regarding liquid staking. It appears that letting people stake their digital baubles without immediately classifying it as a nefarious securities offering is now *official policy*. One is almost breathless with anticipation.

Under my leadership, the SEC is committed to providing clear guidance on the application of the federal securities laws to emerging technologies and financial activities.

Naturally, the market, ever susceptible to dramatic pronouncements, has interpreted this as a sort of…recognition. Blockchain infrastructure, it appears, is deemed worthy of acknowledgement within the rigid structures of regulation. Though one suspects a great many questions regarding *other* staking formats remain, like so many unanswered prayers. 🙄

The Division’s analysis, penned by individuals undoubtedly deprived of more stimulating pursuits, cleverly compared liquid staking tokens (LSTs) – issued when one stakes assets – to the rather pedestrian world of warehouse receipts. A rather humbling comparison, wouldn’t you agree? It seems evidence of ownership, regardless of its digital provenance, is still just evidence of ownership. Groundbreaking!

Commissioner Peirce, with a delightfully dry wit, further elucidated this profound insight:

Today’s statement clarifies the Division’s view that liquid staking activities in connection with protocol staking do not involve the offer and sale of securities. Instead, it is a variant on the longstanding practice of depositing goods with an agent who performs a ministerial function in exchange for a receipt that evidences ownership of the goods.

She quite generously credited Acting Director LaMothe and her team for their tireless efforts, and suggested those with further queries – or perhaps simply a desire to argue – might utilize the SEC’s Crypto Task Force. A noble gesture, if a touch optimistic. One imagines they’ll be rather busy. 🎭

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2025-08-07 04:38