SEC Engages Crypto Industry on ETP Staking
1min read The U.S. Securities and Exchange Commission (SEC) has taken a significant step in its approach to cryptocurrency regulation by engaging with industry leaders to discuss exchange-traded products (ETPs) staking. The SEC's Crypto Task Force held a meeting with Jito Labs and Multicoin Capital to explore the potential of incorporating staking within crypto ETPs and the methods to implement it.
The SEC's new "tripartisan" approach, which involves collaboration with industry representatives, is evident in this meeting. Jito Labs, a prominent staking protocol and key player in the Solana ecosystem, was present, indicating the SEC's interest in engaging with influential stakeholders. The Task Force focused its inquiries on two main topics: the feasibility of including staking within crypto ETPs and the potential methods to enact it.
While the SEC released a five-page document on the meeting, the extent of the progress made in reaching meaningful solutions remains unclear. However, industry reporters have uncovered evidence of the SEC's deeper curiosity on the subject. Rumors suggest that the Crypto Task Force hosted another webinar earlier this week to discuss staking, although the participating firms remain unknown. The Task Force has reportedly asked industry representatives to list their top priorities, indicating a proactive approach to understanding the industry's needs.
The influence of these meetings is already apparent. Shortly after the SEC announced its meeting with Jito Labs and Multicoin Capital, the New York Stock Exchange (NYSE) submitted a proposal to allow staking on Grayscale's Ethereum ETF. The Crypto Task Force's plans to move swiftly on ETF staking approval suggest that regulatory changes in the crypto space may be on the horizon.
