SEC says liquid staking receipt tokens are not securities

The agency clarified that the tokens do not qualify as investment contracts under the Howey test.

The SEC has issued a staff statement clarifying that liquid crypto staking falls outside the ambit of securities law under the Howey test.

The nonbinding statement continues the SEC’s efforts to exempt certain blockchain activities from formal securities regulation, such as proof-of-work mining.

Liquid staking involves crypto holders delegating their

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