SEC staff clarifies when staking tokens may avoid securities rules
SEC staff clarifies when staking tokens may avoid securities rules
A staking receipt for a digital commodity can qualify as a digital tool under the conditions described by SEC staff.A receipt issued by a protocol-based liquid staking provider may instead qualify as a digital commodity.Staff said token buybacks on functional networks do not, by themselves, amount to promises of essential managerial work.The answers are staff views and create no new legal obligations.