Blish believes the biggest challenge would emerge if the SEC decides that no U.S. citizen should interact with crypto staking protocols.
to pay a civil penalty of $30 million and immediately shut down its staking platform in the U.S.
Commenting on the SEC’s action, Blish opined that although the move could benefit on-chain liquid staking providers, the final resolution could bring up new challenges for DeFi.“I have been getting a lot more questions about ‘does this impact Lido, what are your thoughts on this? I personally think this is a net benefit for on-chain permissionless liquid staking or staking providers, but it really depends on what the final resolution is,” he said.
“The biggest risk I personally see as a US-based person is if they come down and say you can no longer even interact with or contribute to these types of protocols. Then me as a contributor to the DAO, does that mean I can’t work on Lido anymore? Do I have to go leave and do something else?” Blish also asserted that regulators’ request for transparency on the industry’s part should match the transparency on how decisions are made.is currently the largest ether staking protocol, with over 4.8 million ETH valued at about $7.2 billion staked on the platform. Blish believes that Lido serves a “plumbing” function in ETH staking.
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