U.S. academic institutions urge the SEC to implement strict cryptocurrency staking rules and regulations
PANews reported on June 25 that according to Cryptoslate, on June 23, representatives from the University of California, Berkeley School of Law, Georgetown University Law School, University of Chicago Law School, and Placeholder met with the U.S. Securities and Exchange Commission (SEC) Cryptocurrency Working Group to discuss the pledge rulebook. The discussion focused on the narrow definition of digital asset pledge, economic guardrails, and open source requirements.
The delegation requested that the SEC only certify the term "staking" for products that perform protocol-level verification, and that related retail marketing must be approved in advance. It proposed setting the upper limit of the published yield rate to the base reward rate and the agency fee to be limited to 5%. Auditable cost data can support fee increases, and also suggested standardized interface disclosure data. The universities believe that disclosure alone cannot solve problems such as the concentration of power of validators in staking protocols. They require mandatory disclosure of validator information dashboards, client software must be open source, and recommend setting licensing thresholds for entities that control a large stake. The SEC has included the recommendations in its deliberations, and all parties are awaiting further regulatory guidance.
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