The US SEC has released new guidelines clarifying that liquid staking activities and related tokens do not constitute securities transactions under specific conditions and do not need to be registered under securities laws. This reflects the SEC's friendly shift towards cryptocurrency under the Trump administration. This decision is crucial as it removes a key obstacle for the SEC's approval of spot Ethereum ETFs that include staking features. Previously, the SEC was concerned about liquidity management, and liquid staking tokens are precisely the tools to address this issue. Several issuers (such as BlackRock) are seeking to incorporate staking into Ethereum ETFs. From a cyclical perspective, this is a major positive for Ethereum.

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