The Block Crypto News22 minutes ago

Published on July 02, 2024 14:37 GMT+00:00edited on July 02, 2024 14:39 GMT+00:00

Ethereum staking has long been known to draw the attention of the U.S. Securities and Exchange Commission. While the long-term impacts of the agency's crackdown on staking are still uncertain, early responses indicate significant regulatory shifts ahead.

The SEC had previously gone after staking services at Kraken and Coinbase, and the spot Ethereum ETF issuers all removed staking from their applications to get approval.

The regulator also launched an investigation into Ethereum 2.0 after the network changed its consensus mechanism to Proof-of-Stake from Proof-of-Work. The SEC had been vague about whether it considered ether a security, with the agency sometimes seeming to suggest all PoS tokens were securities because of the rewards users expect to get if they stake their tokens. But …