• The SEC has clarified that solo staking, delegated staking and custodial staking, when tied directly to a network’s consensus process, do not qualify as securities offerings.

• Post May 29 guideline, rewards earned from network validation are seen as compensation for services, not profits from the efforts of others, removing them from the Howey test classification. ....

Executives with America’s biggest bank met with the Securities and Exchange Commission’s Crypto Task Force to discuss digital asset regulation and potential ramifications of capital markets moving onchain.

 shared on Tuesday.

The two groups also discussed JPMorgan’s existing “business footprint” in the crypto space, including its current digital platform that handles repurchase agreements — a type of short-term borrowing in financial markets that falls under its “Digital Financing” and “Digital Debt Services” offerings.

JPMorgan also assessed where it could carve out a “competitive angle” — to stay ahead of the race as financial institutions look to the blockchain for faster, cheaper transactions while also unlocking new revenue streams through tokenized assets.