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Cryptocurrency industry associations are urging the US Securities and Exchange Commission (SEC) to provide official guidance on staking, citing persistent regulatory ambiguity for Web3 infrastructure suppliers, according to Allison Muehr, head of staking policy for the Crypto Council for Innovation, a trade association.
Clarifying the SEC’s stance on staking has risen to a crucial priority for the crypto sector, Muehr mentioned during Solana’s Accelerate conference in New York.
“We’re approximately 25% of the way there,” Muehr stated. “The SEC has engaged with us more constructively in the last four months than in the previous four years, yet we still lack formal staking guidance.”
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Shifting regulatory position
During the previous US presidential administration, the SEC initiated enforcement actions against various crypto companies for providing staking services it claimed were unregistered securities offerings.
Since President Donald Trump assumed office in January, the SEC has moderated its position.
In February, the agency released guidance indicating that memecoins do not meet the criteria of investment contracts under US law.
In April, the regulator clarified that stablecoins also do not qualify as securities if they are promoted exclusively as a payment method.
Nonetheless, the agency has yet to endorse staking in exchange-traded funds (ETFs) or issue formal guidance on how staking services can be compliant within the US.
Additional policy objectives
Muehr expressed optimism that the SEC will ultimately approve staking for cryptocurrency ETFs, including proposed Solana (SOL) funds.
“Achieving this requires first ensuring the SEC is comfortable with the structure,” she noted, mentioning that the industry has recently experienced “some fruitful discussions with the agency.”
“I’m hopeful we’ll observe a Solana ETF and even a staked Solana ETF in the US in the near future.”
The SEC is not the sole agency the crypto industry aims to influence. Muehr indicated that the Internal Revenue Service (IRS)—the leading US tax authority—has also taken a position the industry contests.
“The IRS finally released a statement asserting that staking rewards are service income,” she remarked. “We disagree with that interpretation and continue to engage.”
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