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Crenshaw: Response to Staff Statement on Certain Liquid Staking Activities: Caveat Liquid Staker
Some things are better left unsaid. Today, the Division of Corporation Finance spoke in the form of a statement on liquid staking activities that purports “to provide greater clarity on the application of the federal securities laws to crypto assets.”[1] But instead of clarifying the legal landscape, today’s statement, like other recent staff statements before it, only muddies the waters.[2] This lack of clarity principally stems from two sources. First, the Liquid Staking Statement stacks factual assumption on top of factual assumption on top of factual assumption, resulting in a wobbly wall of facts without ... (full story)