SEC Clarifies Crypto Rules for Staking Tokens, Functional Networks, and Buybacks
The US Securities and Exchange Commission (SEC) has released new guidance on crypto asset rules, specifically addressing staking receipt tokens, wrapped assets, buybacks, and functional networks.
The updated FAQs clarify how SEC staff evaluates different crypto assets and network activities, focusing on whether specific actions involve ongoing managerial efforts linked to investment expectations.
The guidance highlights conditions that may affect how digital assets are treated under securities laws, explaining that some crypto assets can operate as digital tools rather than securities, depending on their structure, purpose, and operation.
The SEC staff addressed staking receipt tokens issued through blockchain-based staking services, noting that these tokens can represent ownership of underlying digital assets while allowing users to track their staking positions.