Universities discuss rules for digital asset stake with SEC, focusing on definition and Open Source requirements

【ChainNews】On June 25th, it was reported that on June 23rd, the law schools of the University of California, Berkeley, Georgetown University, the University of Chicago, and Placeholder, met with the Cryptocurrency Working Group of the United States Securities and Exchange Commission (SEC) to discuss the stake rule manual. The discussion focused on the narrow definition of digital asset stake, economic moats, and Open Source requirements.

The association requests the SEC to certify only the “stake” term verified at the protocol level of the product, and retail marketing related to it must be approved in advance. It is proposed to set the maximum rate of return published as the basic reward rate, with intermediary fees limited to within 5%. Audit cost data can support fee increases, and it is also recommended to standardize disclosure of data interfaces. Universities believe that disclosure alone cannot solve issues such as the concentration of validator power in stake agreements. They demand the mandatory publication of validator information dashboards, require client software to be Open Source, and suggest setting a threshold for entities holding a large stake. The SEC has included the suggestions in the review and all parties are waiting for further regulatory guidance.