The U.S. SEC's Division of Corporation Finance clarified that protocol staking on public, permissionless PoS networks does not involve securities transactions.
Services like slashing protection, early unstaking, reward distribution, and asset aggregation in protocol staking are not seen as offers or sales of securities.
Self-staking, self-custodial staking, and custodial staking arrangements are considered to fall outside the definition of securities under current federal law by the Division.
Regulatory clarity from the SEC paves the way for growth and development of PoS networks and staking services while ensuring compliance with federal laws.