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You Won’t Believe What Crypto Bigwigs Just Asked the SEC About Staking Rules!

BBG News

On April 30, 2025, the Crypto Council for Innovation (not, alas, a league of superheroes, but close) and their equally melodramatic-sounding sidekick, the Proof of Stake Alliance (POSA), drafted a letter so bursting with righteous crypto fervor that one could almost hear the hum of GPUs as they signed it. Thirty exchanges joined in—because nothing says “urgent, regulatory confusion” like a digital dogpile.

Their big ask? That the SEC, and specifically Commissioner Hester Peirce (who probably has the world’s most unread inbox), put some rules in place about staking that don’t, you know, squash all innovation or send crypto enthusiasts fleeing to the Scandinavian forests to build servers from birch bark.

According to their letter, staking is about as much an investment as feeding pigeons is a financial strategy 🕊️. They claim it’s just a technical thing, like plumbing but for blockchains, and the “rewards” are more a thank-you note from the network than a Wall Street scheme. Technical risks? Sure. But nothing a seasoned crypto enthusiast hasn’t seen between breakfast and a surprise fork.

The letter also cheekily points out that places like Canada and the U.K. have already figured this out, and the SEC is, well, still looking for its misplaced regulatory spectacles. They implore the SEC to stop gnawing its regulatory pencil and just offer some clarity—before everyone’s retirements are riding on the outcome of a meme coin mascot footrace. 🪙🏃‍♂️

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2025-05-01 16:29

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