Everstake to SEC: Non-Custodial Staking Shouldn't Be Regulated as Securities

Everstake has urged the U.S. Securities and Exchange Commission (SEC) to clarify that non-custodial staking should not be regulated as a securities transaction. The meeting comes amid rising regulatory uncertainty that threatens to undermine the foundational role of staking in blockchain networks.

Everstake Defends Non-Custodial Model for Staking in SEC Talks

Amid growing tension between blockchain innovation and regulatory oversight, Everstake, a leading non-custodial staking provider, met with the SEC’s Crypto Task Force last week to argue that staking services where users maintain control of their crypto assets should not fall under securities regulation.

The discussion highlighted a core concern for the blockchain industry: over $193 billion is currently staked across major proof-of-stake (PoS) networks. This underscores the central role staking plays in maintaining decentralized infrastructure.

In a letter submitted alongside the meeting, Everstake emphasized that non-custodial staking does not involve asset transfer or third-party profit schemes, two critical elements of securities classification under the Howey Test.

Sergii Vasylchuk, Founder of Everstake, spoke on the importance of engaging with the SEC to establish clear regulations for non-custodial staking:

Meeting with the SEC was a constructive and necessary step toward advancing public understanding of non-custodial staking and its role in the blockchain ecosystem. We firmly believe that collaboration between blockchain innovators and regulators is essential for building a trustworthy and resilient industry. We’re prepared to share our infrastructure, data, and insights to help regulators better understand the mechanics of non-custodial staking and other foundational blockchain technologies.

Everstake’s engagement signals a push from infrastructure providers to preserve the innovation at the heart of PoS networks, while seeking regulatory clarity. The outcome could have lasting implications for how staking is offered, accessed, and governed in the U.S.