The SEC chair singled out protocols that pay out to token holders who stake in remarks made to press on Wednesday.
Securities and Exchange Commission Chair Gary Gensler suggested Wednesday that tokens using staking protocols could be considered securities under U.S. law.
Gensler suggested that the returns token holders see from staking indicate that those tokens are securities and would need to be registered as such under U.S. law.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Securities and Exchange Commission Chair Gary Gensler suggested to reporters on Wednesday that tokens using staking protocols could be considered securities under U.S. law.
"The investing public is investing anticipating a return, anticipating something on these tokens, whether they're proof-of-stake tokens, where they're also looking to get returns on those proof-of-stake tokens and getting 2%, 4%, 18% returns," Gensler said.
Gensler made the remarks after being asked for his reaction to statements made last week by Commodity Futures Trading Commission Chair Rostin Behnam, whoGensler spoke to reporters after a commission vote aimed at tightening cybersecurity, consumer privacy, and system standards for the securities industry, including at some firms involved in digital assets.
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