Transactions to the Ethereum network reached a year high as the US Securities and Exchange Commission issued a new staking guide.
It came amidst the historical highs in Ether staked in the network;;;;;;;;;;;;;;;;;;;;;;; According to Dune Analytics, more than 36 million ether (Eth) now Staked In Ethereum, which represents about 30% of the total token supply.
A large number of tokens locked in smart contracts indicate that ether holders are declining, preferring to render their ETH that will not be noticed at the time of replacement of staking rewards.
Increased network activity complies with the guide from the SEC and an additional commission statement that liquid staking can be exempt from security laws; However, commentary from a commissioner suggests that it may not be simple.
Liquid staking at Ethereum in “Muddy Waters”
On Tuesday, the Sec’s Division of Corporation Finance released a “statement to some liquid staking activity.” In it, the division defines and explains its views on liquid staking.
Liquid staking is a staking form that releases a token that represents a user’s staked asset. This allows investors to continue using decentralized financial protocols (DEFI) while earning staking rewards.
The division said liquid staking activities, as well as the offer and sale of “staking receipt tokens,” which were not as described in the SEC statement, did not “involve the offer and sale of security” as defined by the 1933 Securities Act.
Consequently, creatures that release “staking receipt tokens,” as long as those tokens do not form some form of investment contract, do not need to be registered with SEC.
The defi industry is fast Hail the updated guide as a success.
“Institutions can now be confident to integrate LSTS (liquid staking tokens) into their products, which will surely drive new income streams, expand customer bases and enable creating a second market for staked assets,” said Mara Schmiedt, CEO of Blockchain Developer Company Alluvial, CEOn.
Jito Labs CEO Lucas Bruder said the guidance “shows the same annoying understanding of the LST technology that the Crypto Task Force has shown when we met them on this topic in February.”
However, not all of the SEC is convinced that the finance of corporate finances has taken the right step.
On Wednesday, Commissioner Caroline Crenshaw Reply. He said their meaning of staking “may not reflect existing soil conditions.”
Per Crenshaw, the legal conclusions of the statement (that is, that LSTs are free of security laws) “applies only if the many facts are held.”
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“Until any specific fluid phase activity deviates from many facts laid out in the statement of liquid staking, that activity is outside the scope of the statement.”
He concluded that the statement reflected only the views of the single division, not the whole commission, and said that it should provide “little comfort” to the creatures involved in staking.
The statement is not no allies in Sec. The so-called “Crypto Mom” hester Peirce — a SEC commissioner who has advanced for more favorable regulations for the crypto industry in recent years- released A statement of himself, saying that the division clarified its view “that liquid staking activities related to protocol staking were not involved in the offer and sale of security.”
Chairman Paul Atkins Says This is “a significant step forward in clarifying the staff’s perspective on crypto asset activities that does not fall within the scope of the SEC.”
Ethereum climbed with defi still in a legal color -abo area
Regardless of the limitations of the division statement or its potential outcomes, the Ethereum ecosystem is optimistic.
Pseudonymous with -set of cryptoquant onchainschool mentioned In a Tuesday post of over 500,000 ETH (costs approximately $ 1.8 billion at the time of publishing) stuck in the first half of June only.
“This growth indicates an increase in confidence and an ongoing collapse in liquid supply,” they said.
Additionally, blockchain addresses without a sale history are also rising, holding about 23 million ETHs (costing $ 82.6 billion at current prices).
However, the DeFI industry, most of which is built in the Ethereum framework, still lacks legal recognition or regulation in many constituents.
In the case of US SEC, the Commission delayed its decision on Bitwise’s application To add staking to its ether exchange-traded fund (ETF).
The Clarity Act, which will establish some regulations for the DeFI industry, is still being done through the Congress halls. The bill will release defi protocols from some of the standards it created for other crypto -related creatures and allow them to launch and sell folk tokens.
European Union markets in crypto-assets regulation do not contain provisions for the defi industry; However, it will be reported Become a priority for bloc lawmakers in 2026.
Sooner or later, it appears that defi regulations are coming and ecosystems that are critical for the industry, such as Ethereum, are preparing.
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