Regulatory Pulse: US SEC March 17 Release – How it Relates to Staking - Figment

Regulatory Pulse: US SEC March 17 Release – How it Relates to Staking

Eme Housser
Senior Director, Legal & Regulatory Affairs
Published
March 20, 2026

This week, the SEC published an interpretation clarifying how federal securities laws apply to crypto assets, and staking is specifically addressed.

The short version for those of us who work in this space: the SEC has confirmed that protocol staking is not treated as an offering of securities. The CFTC joined the interpretation, signaling a coordinated federal approach. That is encouraging alignment.

For Figment and the clients we serve, this is welcome and expected news. The regulatory direction around staking has been moving in a consistent direction, and this interpretation reinforces that.

As for what comes next: Congress is working to codify this framework into law through the Digital Asset Market Clarity Act (the CLARITY Act), which passed the House last year and is now working through the Senate. The SEC itself describes this week’s interpretation as a “bridge” while that legislation advances. Either way, the direction is clear — and staking is not a contested question in that debate.

If you’re navigating specific compliance questions, consult your counsel. But for those following the institutional staking landscape, this is what progress looks like.

SEC press release: https://www.sec.gov/newsroom/press-releases/2026-30-sec-clarifies-application-federal-securities-laws-crypto-assets

Full interpretation: https://www.sec.gov/rules-regulations/2026/03/s7-2026-09

Fact sheet: https://www.sec.gov/files/33-11412-fact-sheet.pdf

About Figment

Figment is the leading provider of staking infrastructure. Figment provides the complete staking solution for over 1500 institutional clients, including asset managers, exchanges, wallets, foundations, custodians, and large token holders, to earn rewards on their digital assets.

The information herein is being provided to you for general informational purposes only. It is not intended to be, nor should it be relied upon as, legal, business, tax or investment advice. Figment undertakes no obligation to update the information herein.