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U.S. Senators Push for SEC to Rethink Crypto Staking in Exchange Funds

A bipartisan group of U.S. senators, including Republicans Cynthia Lummis and Kirsten Gillibrand, argued in a letter to the SEC that staking should be added as a feature in crypto exchange-traded funds (ETFs). The senators are calling for the SEC to reconsider its stance on staking, which involves locking up digital tokens to support blockchain operations in return for rewards. The SEC had previously opposed staking, but the senators believe it can provide potential benefits to investors and promote the security of ecosystems such as Ethereum.

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