U.S. Lawmakers Urge SEC to Reevaluate Crypto Staking in ETFs
A group of bipartisan U.S. senators advocates for the Securities and Exchange Commission to reconsider its stance on staking in crypto exchange-traded funds, citing the importance of staking for digital asset health.
Key Points:
- A group of bipartisan U.S. senators urges the SEC to rethink its previous position against the integration of staking in crypto ETFs.
- The letter emphasizes that staking is essential for the vitality of digital asset protocols.
Staking’s Potential Role in Crypto ETFs
Lawmakers argue that staking could be added to the offerings for crypto exchange-traded funds (ETFs). Previous attempts to include staking were rejected by the SEC due to concerns under prior leadership. Staking involves holding digital assets to support network operations in exchange for rewards, which is crucial for the security of systems like Ethereum.
“We encourage the SEC to consider the potential benefit to investors from allowing protocol staking in certain digital asset exchange-traded products,” the lawmakers expressed in their communication to SEC Acting Chairman Mark Uyeda.
Other Republican senators joined Lummis, including Kirsten Gillibrand and Ron Wyden.
