SEC's crypto staking crackdown has uncertain consequences for DeFi: Lido Finance
Feb 12. 2023
By Stephen Katte
A Lido DAO member raised concerns over what impact the SEC’s crackdowns on staking could mean for the future of DeFi in the U.S.
A crackdown by the United States securities regulator on crypto staking could have unintended consequences for decentralized finance (DeFi), according to the head of business development at Lido DAO.
In a Feb. 13 Bloomberg report Jacob Blish, who leads business development at Lido's decentralized autonomous organization (DAO), said the most significant risk would be if the SEC eventually concluded that no U.S. citizen can interact with crypto staking services, including protocols.
"The biggest risk I personally see as a U.S.-based person is if they come down and say you can no longer even interact with or contribute to these types of protocols."
"Then me, as a contributor to the DAO, does that mean I can't work on Lido anymore? Do I have to go leave and do something else?" Blish added.
The governance of Lido is managed by the Lido DAO with members from all over the world voting on critical decisions that steer the protocol.
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