The US Securities and Stock Exchange Committee (SEC) held discussions with Everstake, one of the largest non -guarded service providers in the world, to explore clearer organizational definitions about networks in Blockchain networks.
The meeting, which also participated in the SEC Checks, comes at a time when more than $ 193 billion is neglected by digital assets through specialization Proof of ascension (POS) Networks.
However, despite the huge scope of participation, Staking is still in a legal gray area in the United States where the organizers struggle with its classification under the current securities law.
The former SEC administration has also taken enforcement measures against major players such as Kaken, Coinbase and Conssys because of their exciting services. The agency, under the president, refused to Crypo Donald Trump, recently rejected these executive procedures.
During the meeting, Everstake told SEC that the unspeakable deception should not be classified as a treatment for securities. The company said that users maintain full control of their digital assets during the evaluation process and do not transfer ownership to a third party.
They argued that this makes the task a technical function, not an investment product.
“Our main assurance is that deception is not a financial tool or a security treatment, but rather a technical process, which is a basic layer protocol-to Oracle in a database-which maintains the safety and functions of decentralized networks,” said Everstake Sergii Vasylchuk.
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Everstake calls for organizational clarity
In a letter submitted to the SEC’s Crypto work band on April 8, 2025, Everstake asked the agency to extend organizational clarity to the non -guardian evaluation models and guard and liquid models.
In the message that came to respond to Commissioner Hester Pearce An invitation to the inputs on the organizational processing of Blockchain services, Everstake has argued that the non -trustee lead should not be considered.
He claimed that the non -guardian, as users reserve control of distinctive symbols, does not include assembly assets or the expectation of profits from administrative efforts.
In its model, Everstake said that users delegate the verification rights to be valid only while maintaining ownership of their digital assets. The exciting bonuses of the algorithm are distributed by the Blockchain network itself, and the company only provides technical infrastructure.
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The failure of the trustee to test howy
The message also shows the details of the reason for the failure of the non -trustee of each incision Howy Test. Users do not invest money in a joint institution, do not expect profits from Everstake’s efforts, and do not depend on the company’s management of financial returns.
Instead, any bonuses of incentives come at the network level and fluctuate with the market value of the basic asset.
Everstake suggests specific criteria that will exempt the non -trustee dribbling from the category of securities. This includes control of the user’s assets, the absence of collected boxes, the unstable permission, and the provision of purely technical services.
Non -fatigue is similar to the proof of mining, which SEC previously excluded as securities.
“Through a non -trustee, there is no delivery of assets, no investment contract, and no third party risks.” She added:
“Dealing with it as securities undermines the decentralized model and risks cold innovation in the Blockchain sector.”
However, the Supreme Education Council has so far blocked a final position. Rosenfield said the agency had not provided any “specific obligations” regarding the guidance. However, he still listens to the stakeholders in the industry.
“The business squad is actively interacting with a group of stakeholders-including the participants in the non-guardian guidance, the traded investment funds, and the broader infrastructure in Blockchain-to collect inputs.”
In a message on April 30 to the Supreme Education Council, approximately 30 groups of encryption lawyer led by the Crypto Council for Innovation (CCI) The agency asked for clear organizational guidelines On Crypto Stokeing and Switking Services.
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