Home SEC Declares Liquid Staking & Receipt Tokens Are Not Securities

SEC Declares Liquid Staking & Receipt Tokens Are Not Securities

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In a notable move for the crypto industry, the U.S. Securities and Exchange Commission has clarified that liquid staking activities — where users receive “staking receipt tokens” in exchange for staking crypto — are not considered securities, provided they aren’t linked to investment contracts.

This guidance comes from the SEC’s Division of Corporation Finance and is part of the agency’s broader Project Crypto initiative, aimed at providing regulatory clarity for digital assets.

The division further confirmed that platforms involved in issuing, redeeming, or trading staking receipt tokens generally do not need to register under U.S. securities laws. However, exceptions may apply if the staked assets meet the definition of a security.

This announcement provides much-needed legal certainty for DeFi developers and staking providers, suggesting the SEC is evolving in its approach to digital assets. It also echoes earlier remarks that most cryptocurrencies are not securities, as reiterated by SEC Chair Paul Atkins.

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