A coalition of American blockchain companies urged the Securities and Exchange Commission (SEC) to provide clear regulatory orientations on stimulating cryptography.
The coalition, directed by the Crypto Council for Innovation, asked in an open letter of April 30 that the agency dealt with the same clarity that it had recently applied to the extraction of the work proof.
The marked tokens are not security
The Council argued that the markup is a basic technical process to maintain blockchain networks, and not an investment contract.
He said:
“The advantages of the implementation of a POS network and its participants are clear: the actors of the basic layer are encouraged to contribute to network safety, to minimize the risk of manipulative activity, to ensure data integrity and to strengthen community confidence in the network.”
He stressed that the implementation allows users to validate transactions, secure the network and help produce new blocks. In return, participants receive rewards based on tokens. These awards are determined by the protocol of each network, and not by a centralized authority or a profit sharing agreement.
The Council also underlined the Declaration of the Division of Finance of the SEC SEC in March 2025 on the POW mine. In this declaration, the SEC said that mining on decentralized networks is not a securities transaction.
The Council said that this reasoning should also apply to the markup, because minors and stakers engage in administrative functions to support the blockchain infrastructure and receive rewards defined by the protocol.
Meanwhile, the letter has recognized that certain risks exist, such as the possibility of reducing, where stakers lose tokens for violating the rules of the protocol.
However, he noted that the reduction in reduction is rare and not a decisive characteristic of the economic model of stuking. Consequently, the Council maintains that the markup should not be classified under securities laws.
Why is clarity necessary?
The Crypto Council estimates that the official SEC advice would benefit many stakeholders, including developers, service providers and end users.
They argued that such a clarity would remove the uncertainties for platforms which offer stain, in particular those linked to the funds negotiated in exchange for crypto (ETF).
The Council also stressed that regulatory clarity would help the United States remain competitive with other global jurisdictions, which move more quickly to support innovation in the space of digital assets.
However, they warned against too rigid rules that could limit innovation or strengthen obsolete market practices.
