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Collateral Securities Decentralized Finance (DeFi)

Fenwick & West LLP

SEC Staff Statement: Certain Liquid Staking Activities and Staking Receipt Tokens Do Not Involve the Offer and Sale of Securities

Fenwick & West LLP on

On August 5, 2025, the Securities and Exchange Commission Division of Corporation Finance released a statement on liquid staking as a follow-on to its May 29, 2025, protocol staking statement. The liquid staking statement...more

Latham & Watkins LLP

The Limits of Applying Reves v. Ernst & Young to DeFi and the Perils of Regulating Web3 by Enforcement

Latham & Watkins LLP on

The SEC’s reliance on a nebulous US Supreme Court decision raises important questions for the future of decentralized finance. Reves v. Ernst & Young,[1] a 30-year-old US Supreme Court decision on farmers’ co-ops, is...more

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