Crypto industry leaders are intensifying calls for the U.S. Securities and Exchange Commission (SEC) to clarify its stance on staking services, arguing that regulatory ambiguity is hampering blockchain infrastructure development and slowing industry progress.
Speaking at Solana’s Accelerate conference in New York, Alison Mangiero, head of staking policy at the Crypto Council for Innovation, described staking regulation as a “top priority” for the ecosystem. Despite improved dialogue with the SEC in recent months, she said the industry still lacks formal guidance.
“We’re about 25% of the way there,” Mangiero told attendees.
“The SEC has done more constructive engagement with us in the past four months than in the last four years, but we still don’t have formal staking guidance.”

While the SEC has issued positions on memecoins and stablecoins recently, it has refrained from offering clear rules on staking—a core component of proof-of-stake blockchains such as Ethereum and Solana. Without a defined framework, exchanges, custodians, and developers remain uncertain about how to offer staking services legally in the U.S., even as demand for such products grows among retail and institutional investors.
With staking now central to blockchain security and governance, many in the industry argue that formal SEC guidance is essential to ensure compliant innovation and unlock the full potential of crypto infrastructure.
Trump-Era Shift Eases Crypto Policy, But Gaps Remain
The regulatory environment for digital assets has shifted notably since President Donald Trump returned to office in January, with the SEC signaling a more measured approach to crypto enforcement. Yet despite progress on other fronts, the agency has not addressed staking services directly.
During the previous administration, the SEC pursued enforcement actions against crypto firms offering staking products, often labeling them as unregistered securities. The crackdown created legal uncertainty for firms operating on proof-of-stake networks.
Under the current administration, the SEC has softened its stance. In February, the agency clarified that memecoins—typically community-driven tokens—do not meet the criteria for securities. By April, similar relief was extended to stablecoins used strictly for payments.
Still, the SEC has yet to provide guidance on staking. This leaves open questions about how staking services should be structured legally—particularly for firms seeking to include staking rewards in ETF offerings. As the market matures and institutional interest grows, crypto advocates continue to press regulators for a consistent framework that reflects staking’s unique role in decentralized finance.
Staked ETFs and IRS Rules in Spotlight
As the crypto industry continues its regulatory push, leaders are also focused on broader policy goals—including staking ETF approvals and staking-related tax reform. Mangiero further voiced optimism this week that the SEC may eventually greenlight ETFs that include staking.
“We’re working to get the SEC comfortable with the structure,” she said, noting that recent meetings have been constructive.
One major goal is approval for a U.S.-listed Solana ETF, and eventually a version that includes staking rewards for investors.
Beyond the SEC, the Internal Revenue Service (IRS) is also drawing scrutiny from the industry. Mangiero raised concerns over the IRS’s recent stance that staking rewards should be taxed as “service income”—a classification that diverges from the industry view, which favors treatment as capital gains.
“We disagree with that interpretation and continue to engage,” Mangiero said.
As staking becomes increasingly integral to ecosystems like Solana, Ethereum, and Avalanche, how these rewards are taxed and regulated will play a critical role in shaping the future of U.S. blockchain infrastructure.
Quick Facts
- Crypto leaders urge SEC to issue formal staking guidance
- SEC has eased stance on memecoins and stablecoins
- Lack of clarity hampers staking services and ETF development
- IRS classifies staking rewards as service income
- Industry pushes for capital gains treatment and legal reform