Figment Joins Blockchain Association to Shape Crypto Staking Regulation

The Blockchain Association, a leading trade association for the cryptocurrency industry in the United States, has welcomed Figment, a leading independent staking infrastructure provider with over $15 billion in staked assets, as its newest member. This collaboration emphasizes Figment's continued leadership role in shaping regulation that facilitates institutional crypto adoption.

As institutional interest in protocol staking continues to grow, Figment's membership in the Blockchain Association reinforces its commitment to working with policymakers and regulators to establish clear guidelines for the staking ecosystem. This collaboration comes at a crucial time as the industry seeks regulatory clarity, particularly regarding the treatment of protocol staking in exchange-traded products.

Kristin Smith, CEO at Blockchain Association, expressed excitement about Figment's membership, stating, "As the U.S. moves into a new era for digital assets, establishing regulatory clarity around staking will be critical. We look forward to the Figment team lending their expertise to these policy conversations in DC."

Through the Association, Figment will focus on key educational and advocacy initiatives, including protocol staking in ETPs, development of staking regulatory frameworks, education on the distinction between protocol staking and yield products, and cross-jurisdictional policy alignment.

As a member of the Blockchain Association, Figment strengthens its position as a trusted voice in shaping the future of digital asset infrastructure. This membership enhances the company's ability to serve its 700+ institutional clients while contributing to the development of responsible industry standards.

Figment continues to educate American policymakers on staking's critical importance in securing and decentralizing Proof-of-Stake (PoS) networks. Having reached a $633 billion market cap, PoS networks offer a more sustainable alternative to energy-intensive Proof-of-Work mining. The approval of Ethereum in ETFs in May 2024 marked another significant milestone for Proof-of-Stake networks.

The entire Figment team is energized to bring its staking expertise to the Blockchain Association's agenda at this critical moment for the future of the nation's crypto policy. Beyond navigating the hopeful addition of staking to ETPs, Figment is also helping traditional banks and brokerages navigate the opportunities of staking within regulated financial institutions made possible through SAB 122.

Jennie Levin, Chief Regulatory & Strategy Officer at Figment