The US SEC has issued new guidelines stating that pledging ETH voucher tokens does not constitute securities under certain conditions
The US Securities and Exchange Commission's Corporate Banking Department has issued new guidelines clarifying that token tokens obtained by users pledging ETH do not constitute securities when their function is purely receipts. The guidelines stipulate that tokens cannot change the rights of the pledged ETH or increase additional rewards, and service providers are not allowed to lend, pledge, or reuse deposited tokens. This regulation is in contrast to Kraken's $30 million fine and shutdown of US staking services in 2023 for promoting returns. The document points out that announcing a repurchase when the network is operational does not constitute a security commitment, and it may still constitute a repurchase when the network is not yet completed. (Source: BeInCrypto)