A request has been made by Everstake to the U.S. Securities and Exchange Commission (SEC) for clarification that non-custodial staking ought not to be classified or regulated as a securities transaction. The meeting was held against the backdrop of increasing regulatory ambiguity, which poses a risk to the essential role staking plays within blockchain ecosystems.
Everstake Backs Non-Custodial Staking Model in SEC Discussions
Amid the escalating friction between blockchain advancement and regulatory control, a meeting was held last week between Everstake—a prominent provider of non-custodial staking services—and the SEC’s Crypto Task Force. During the discussion, the position was presented that staking services, in which users retain control over their crypto assets, should not be subjected to securities regulations.
A central concern for the blockchain sector was brought to light during the discussion: more than $193 billion has been staked across leading proof-of-stake (PoS) networks. This figure emphasizes the critical importance of staking in supporting and sustaining decentralized infrastructure.
In a letter submitted in conjunction with the meeting, it was stressed by Everstake that non-custodial staking does not entail the transfer of assets or the promise of profits from third parties—two key factors used to determine securities classification under the Howey Test.
The importance of engaging with the SEC to develop clear regulatory guidelines for non-custodial staking was emphasized by Sergii Vasylchuk, the Founder of Everstake:
Meeting with the SEC was a constructive and necessary step toward advancing public understanding of non-custodial staking and its role in the blockchain ecosystem. We firmly believe that collaboration between blockchain innovators and regulators is essential for building a trustworthy and resilient industry. We’re prepared to share our infrastructure, data, and insights to help regulators better understand the mechanics of non-custodial staking and other foundational blockchain technologies.
A push to safeguard the innovation central to proof-of-stake (PoS) networks, while pursuing regulatory clarity, has been signaled through Everstake’s engagement. The resulting decisions may carry long-term consequences for how staking services are delivered, utilized, and regulated within the United States.
