Cryptocurrency industry groups are urging the US Securities and Exchange Commission (SEC) to issue formal guidance on staking, citing continued regulatory uncertainty for Web3 infrastructure providers, according to Allison Muehr, head of staking policy for the Crypto Council for Innovation, a trade group.
Clarifying the SEC’s position on staking has become a top priority for the crypto industry, Muehr said during Solana’s Accelerate conference in New York.
“We’re about 25% of the way there,” Muehr said. “The SEC has done more constructive engagement with us in the past four months than in the last four years, but we still don’t have formal staking guidance.”
Allison Muehr, right, the Crypto Council for Innovation’s head of staking policy, speaks at Accelerate. Source: Cointelegraph
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Changing regulatory stance
Under the previous US presidential administration, the SEC brought enforcement actions against several crypto firms for offering