The U.S. Securities and Exchange Commission (SEC) has issued new guidance providing regulatory clarity for staking activities on proof-of-stake (PoS) blockchains like Ethereum. The framework explicitly distinguishes lawful staking operations from securities offerings, enabling compliant industry participation.
According to the guidelines, staking activities directly tied to a network’s consensus mechanism—including solo staking and delegated staking—are not considered securities offerings under U.S. law. The SEC clarified that rewards from such activities constitute compensation for technical validation services rather than passive investment returns, reducing legal ambiguity for participants.
The guidance also legitimizes ancillary services like slashing coverage and early unbonding options when they facilitate staking operations without crossing into investment contract territory. However, the SEC maintains strict prohibitions against staking-like products resembling securities, including yield farming programs and DeFi bundles that promise fixed returns.
This regulatory framework empowers validators, developers, custodians, and investors to confidently engage with PoS networks. The clarity is expected to strengthen blockchain security and decentralization by encouraging compliant participation in core network operations.