The US Securities and Exchange Commission (SEC) has issued a staff statement clarifying that certain cryptocurrency liquid staking activities do not constitute securities offerings.

December 5, 2023 – The statement, issued Tuesday, interprets key sections of the Securities Act of 1933 and the Securities Exchange Act of 1934.

“The statement clarifies the division’s view that, depending on the facts and circumstances, the liquid staking activities covered in the statement do not involve the offer and sale of securities,” the regulator stated.

SEC Chairman Gary Gensler acknowledged the clarity provided by the statement, calling it “a significant step forward in clarifying the staff’s view about crypto asset activities that do not fall within the SEC’s jurisdiction.”

SEC, Liquidity, Staking
An excerpt of the SEC’s Staff Statement on certain cryptocurrency liquid staking activities. Source: SEC

This is a developing story. Further information will be added as it becomes available.