On May 29, 2025, the U.S. Securities and Exchange Commission’s (SEC) Division of Corporation Finance issued a pivotal statement clarifying that certain proof-of-stake (PoS) blockchain staking activities do not constitute securities transactions under federal law. (SEC.gov)
This long-awaited guidance affirms that native staking—whether conducted independently, through non-custodial services, or facilitated by third-party custodians, wallets, or exchanges—does not constitute an investment contract and is therefore not subject to securities registration requirements. The SEC also addressed related services such as reward distribution, delegation aggregation, and slashing protection, noting that these features, when aligned with protocol rules, do not change the underlying non-security status of staking. (Hester Peirce)
At GlobalStake, we view this as a resounding validation of our approach to decentralized, secure, and compliant staking infrastructure. We have long operated on the principle that staking rewards are earned through active participation in network consensus, not via managerial promises or profit expectations from a centralized entity. This SEC guidance reaffirms that stance.
We are particularly pleased with the clarity this brings to clients who stake through our custodial, exchange, and wallet partners. The SEC’s opinion confirms that these activities—when implemented in alignment with protocol logic and without pooled investment schemes—do not constitute securities offerings. As a result, institutions leveraging GlobalStake’s staking via integrations with Custodians and platforms like BitGo, Ledger Enterprise, and others can feel confident in the regulatory integrity of their operations.
Moreover, this statement is a major win for ETF issuers, who have faced persistent uncertainty around whether staking within a fund structure would raise securities compliance concerns. With the SEC now clearly distinguishing staking activity from securities offerings, ETF providers have a stronger legal foundation to include staking yields in their fund designs—opening the door for more competitive and yield-enhanced crypto ETFs in U.S. markets.
This clarity unlocks a critical pathway for further institutional adoption. It reduces legal ambiguity, lowers perceived risk, and reinforces the legitimacy of staking as a foundational activity in the blockchain ecosystem.
This understanding is essential for ensuring innovation is not stifled and that compliant infrastructure providers—like GlobalStake—can continue to serve the growing needs of decentralized networks and their participants.
GlobalStake remains committed to maintaining the highest standards of regulatory alignment, technical excellence, and client transparency. We will continue to work with our legal counsel, partners, and regulators to ensure our staking services meet the evolving landscape of digital asset compliance.
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Resources:
Peirce, H. M. (2025, May 30). Statement on certain protocol staking activities. U.S. Securities and Exchange Commission. https://www.sec.gov/newsroom/speeches-statements/peirce-statement-protocol-staking-053025
U.S. Securities and Exchange Commission. (2025, May 29). Statement on certain protocol staking activities. https://www.sec.gov/newsroom/speeches-statements/statement-certain-protocol-staking-activities-052925