SEC Staff Concludes Protocol Staking Activities on Proof-of-Stake Networks Are Not Securities

On May 29, 2025, the Division of Corporation Finance of the US Securities and Exchange Commission (SEC) issued a statement clarifying its views on the application of federal securities laws to certain proof-of-stake (PoS) blockchain protocol staking activities. The statement specifically addresses the federal regulatory treatment of staking activities for crypto assets that are integral to the operation and security of public, permissionless PoS networks, referred to as “Covered Crypto Assets.”…
By: DLA Piper