- The proof of stake alliance has recently revealed that it is taking the next steps in improving the regulatory space in regards to the Staking-as-a-Service market.
- The alliance has gone into talks with the SEC, according to the announcement.
The proof of stake alliance has recently revealed that it is taking the next crucial steps in improving the regulatory space in regards to the Staking-as-a-Service (STaaS) market. The alliance has gone into talks with the United States securities and exchange commission (SEC), according to the announcement.
The alliance met with the securities commission in order to discuss the increasing popularity of proof of stake protocols. For those that don’t know, these new protocols are a successor to the proof of work consensus protocol originally on bitcoin and is typically seen as a significantly more efficient and scalable model.
On top of this, staking allows token holders to earn interest on locked amounts of the network's native token. In return, this supports the overall efficiency and performance of the network.
Held in February, the meetings were excuses in order to educate the agency about this new kind of technology and model. The founder and president of the proof of stake alliance, Evan Weiss said that he was very impressed with how the securities commission knew so much about staging. He further said:
“We are grateful that they have taken the time to meet with us and start a dialogue around how staking can be successful here in the U.S. We see this discussion as an on-going opportunity to learn from each other, to help ensure that staking-based protocols have the potential to flourish here in the U.S. while also ensuring that consumers and token-holders are protected.”