SEC Commissioner Crenshaw Reject Liquid Staking Exemption
U.S. Securities and Exchange Commission (SEC) Commissioner Mark T. Crenshaw reject di Blockchain Association claim say liquid staking derivatives no suppose dey follow securities laws on Feb 10. Di trade group talk say dis kain products resemble traditional futures contracts and no be SEC business. But Crenshaw talk say any token or derivative wey promise profit from other people work fit meet Howey test security level. E warn market people make dem no think say liquid staking no be security automatically and mention say dem dey work on new rules under Regulation ATS and Securities Act. Dis kain debate show say still get wahala for regulation for liquid staking area wey dey grow fast and get billions of dollars staked crypto assets. Big platforms like Lido Finance (LDO) and Rocket Pool (RPL) fit get compliance wahala. Traders dey wait for clear SEC tori because future ruling fit affect staking derivatives trade volumes and how platform dey run.
Bearish
Di SEC strong waka on liquid staking derivatives na mean say regulatory people go dey watch well well and fit take action if dem see say products be like securities. Before now, when SEC take action against token makers and DeFi platforms because dem interpret Howey test strictly, e make price go down and small small, trading no too happen. If SEC talk say liquid staking tokens na securities, platforms like Lido Finance (LDO) and Rocket Pool (RPL) fit need to register or e fit be say dem no go allow secondary trading again. This kind wahala fit make market people shy, e fit cause dem to sell quick quick and staking yield fit go down. For long term, if rules clear, e fit make projects wey dey follow law better, but for now, market fit still dey shake. Traders suppose dey watch SEC talks and rule changings well to fit arrange their trading for liquid staking assets.