RT Andrew Jacobson (@AndrewJacobson_)Massive. The key quote: "the value of Staking Receipt Tokens is derived from the value of the deposited Covered Crypto Assets and not from the entrepreneurial or managerial efforts of the Liquid Staking Provider." ...

The SEC’s Division of Corporation Finance clarified that, under certain structures, liquid staking and the issuance of staking receipt tokens generally do not constitute offers or sales of securities. In such arrangements, users deposit crypto assets with a protocol or service provider and receive tokens evidencing ownership of the staked assets and any associated rewards. https://t.co/PnyGyPyR7a ...