Staking should potentially be added to the Crypto Exchange Trade Funds (ETF), a bipartisan group of U.S. Senators who argued in a letter to the Securities and Exchange Commission (SEC) on Thursday.
The issuer of the Crypto ETF originally planned to include staking features in fund offerings, but the SEC has been balking the idea under past leadership. The agency, run by Chairman Gary Gensler until the arrival of President Donald Trump’s administration last month, previously sought enforcement measures against companies such as Kraken, so staking is equivalent to providing unregistered securities. He was insisting.
The Senator’s letter is supported by Cynthia Ramis, Republican Chairman of the Senate Subcommittee focused on digital assets, but in return for his compensation he locks digital tokens to support blockchain operations. They call for a reexamination of practices that involve doing so. Advocates argue that protocol staking is key to the security of ecosystems such as Ethereum.
“The SEC encourages investors to consider the potential benefits from allowing them to staking protocols based on specific digital assets (exchange-sold products),” said the SEC Acting Chair. The letter to Mark Weda insisted.
Other Republicans joined Ramis in correspondence, as did the two Democrats. Her regular crypto partners, the Kirstengilli brand in New York, and Ron Wyden in Oregon.
Read more: Staking on Ethereum ETFS may be a problem, but