Blockchain Legal Resource

On May 29, 2025, a bipartisan group of members in the House of Representatives from the Financial Services and Agriculture Committees introduced the Digital Asset Market Clarity (CLARITY) Act. The bill seeks to establish a comprehensive regulatory framework for digital assets in the United States, with regulatory jurisdiction primarily split between the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC).

On May 29, 2025, staff in the SEC’s Division of Corporation Finance issued a statement on “Certain Protocol Staking Activities.” For certain “staking” activities on blockchain networks that use proof-of-stake (“PoS”) as a consensus mechanism (“PoS Networks”), the SEC staff is of the view that such activities do not involve the offer and sale of securities under the SEC’s Howey test.