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US crypto groups urge SEC for clarity on staking

Nearly 30 crypto advocate groups led by the lobby group the Crypto Council for Innovation (CCI) have asked the Securities and Exchange Commission for clear regulatory guidance on crypto staking and staking services.

The CCI’s Proof of Stake Alliance (POSA) group argued in an April 30 letter to the agency’s Crypto Task Force lead, SEC Commissioner Hester Peirce, that staking is fundamentally a technical process, not an investment activity. 

“Staking isn’t niche — it’s the backbone of the decentralized internet,” the letter said. 

The letter responded to the SEC’s call for public input on whether staking and liquid staking, where crypto users lock up their tokens to earn more, should be regulated under federal securities laws.

The coalition called for the SEC to support responsible inclusion of staking features in exchange-traded products (ETPs), and “avoid overly prescriptive rules that could freeze market structures and stifle innovation in the staking space.”

The group argued that staking fails to meet the securities-defining Howey test definition of an “investment contract” as stakers retain ownership of their assets.

Proof-of-Stake, SEC
Source: Crypto Council for Innovation

They added that blockchain protocols, not a staking provider’s efforts, determine rewards, and providers don’t deliver profits through managerial decisions like a company does. 

The letter requested that the SEC Issue principles-based guidance similar to recent SEC staff statements on proof-of-work mining.

“In the past 4 months, we’ve seen more movement and constructive dialogue with the SEC than in the past 4 years,” the group said. “Now, the industry is stepping up with concrete principles to include in guidance — a reflection of this new collaborative approach.”

Related: Ethereum ETF staking will have little impact without multimonth rally: Analyst

The group argued that the existing securities disclosure regime is ill-suited for staking services, which are fundamentally technical rather than financial in nature. 

Big names in support of staking clarity 

The Proof of Stake Alliance includes several high-profile crypto organizations and companies, including the venture capital firm Andreessen Horowitz (a16z), blockchain software firm Consensys, and the crypto exchange Kraken, which restored staking services in the US earlier this year.

The SEC has yet to approve a crypto staking exchange-traded fund (ETF) and delayed the decision on allowing staking for Grayscale’s spot Ether ETF on April 14.

In April, Bloomberg ETF analyst James Seyffart predicted that an Ether ETF that includes staking could come as soon as May.

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Democrats probe housing regulator over considering crypto in mortgages

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Democrats probe housing regulator over considering crypto in mortgages

Democrats probe housing regulator over considering crypto in mortgages

A group of Senate Democrats has probed Federal Housing Finance Agency director William Pulte over his order to propose how to consider crypto in mortgage applications.

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Sir Keir Starmer set for Donald Trump trade talks as PM walks diplomatic line between EU allies and US on Gaza

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Sir Keir Starmer set for Donald Trump trade talks as PM walks diplomatic line between EU allies and US on Gaza

Gaza and transatlantic trade are set to dominate talks between Donald Trump and Sir Keir Starmer when the pair meet in Scotland on Monday.

Downing Street said the prime minister would discuss “what more can be done to secure the ceasefire [in the Middle East] urgently”, during the meeting at the president’s Turnberry golf course in Ayrshire.

Talks in Qatar over a ceasefire ended on Thursday after the US and Israel withdrew their negotiating teams.

Mr Trump blamed Hamas for the collapse of negotiations as he left the US for Scotland, saying the militant group “didn’t want to make a deal… they want to die”.

Sir Keir has tried to forge close personal ties with the president, frequently praising his actions on the world stage despite clear foreign policy differences between the US and UK.

The approach seemed to pay off in May when Mr Trump announced the agreement of a trade deal with the UK that would see several tariffs lowered.

The two leaders are expected to discuss this agreement when they meet, with the prime minister likely to press the president for a lowering of outstanding tariffs on imports such as steel.

Prior to the visit, the White House said the talks would allow them to “refine the historic US-UK trade deal”.

Extracting promises from the president on the Middle East may be harder though.

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Should aid be dropped into Gaza?

Despite some reports that Mr Trump is growing frustrated with Israel, there is a clear difference in tone between the US and its Western allies.

As he did over the Ukraine war, Sir Keir will have to walk a diplomatic line between the UK’s European allies and the White House.

On Thursday, French President Emmanuel Macron announced his country would formally recognise a Palestinian state in September, the first member of the G7 to do so.

That move was dismissed by Mr Trump, who said it “doesn’t carry any weight”.

Read more from Sky News:
US and EU agree trade deal – with bloc facing 15% tariffs
Geldof accuses Israel of ‘lying’ about Gaza starvation

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Trump: ‘It doesn’t matter what Macron says’

The UK, French and German leaders spoke over the weekend and agreed to work together on the “next phase” in Gaza that would see transitional governance and security arrangements put in place, alongside the large-scale delivery of aid.

Under pressure from members of his own party and cabinet to follow France and signal formal recognition of Palestine, Sir Keir has gradually become more critical of Israel in recent months.

On Friday, the prime minister said “the starvation and denial of humanitarian aid to the Palestinian people, the increasing violence from extremist settler groups, and Israel’s disproportionate military escalation in Gaza are all indefensible”.

Government sources say UK recognition is a matter of “when, not if”, however, it’s thought Downing Street wants to ensure any announcement is made at a time when it can have the greatest diplomatic impact.

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Baby Zainab starved to death in Gaza

Cabinet ministers will be convened in the coming days, during the summer recess, to discuss the situation in Gaza.

The UK has also been working with Jordan to air drop supplies, after Israel said it would allow foreign countries to provide aid to the territory.

President Trump’s trip to Scotland comes ahead of his second state visit to the UK in September.

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Downing Street says Ukraine will also likely be discussed in the meeting with both men reflecting on what can be done to force Russia back to the negotiating table.

After the meeting at Turnberry, the prime minister will travel with the president to Aberdeen for a private engagement.

Mr Trump is also expected to meet Scottish First Minister John Swinney while in the country.

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Crypto isn’t crashing the American dream; it’s renovating it

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Crypto isn’t crashing the American dream; it’s renovating it

Crypto isn’t crashing the American dream; it’s renovating it

The US housing regulator’s decision to recognize crypto assets in mortgage applications marks a historic shift from exclusion to integration, opening new pathways to homeownership.

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