SEC Liquidity Staking Regulatory Storm 💥 The SEC's "employee statement" has classified liquidity staking under the federal securities law, directly igniting a regulatory storm. The traditional finance sector is calling it "Lehman 2.0⚠️", while the crypto industry angrily denounces it as "misleading + ignorant", with even SEC commissioners coming out to refute it. This is not just a policy dispute, but a direct confrontation between regulation and innovation. For the full text, see: 📍 Former SEC staff Amanda Fischer was the first to strike: "Liquidity staking = Rehypothecation = High-risk structure before Lehman's collapse"💣 She listed four major risks: ▪ Multiple staking with leverage ▪ Intermediary failure could trigger a run ▪ Unstaking delays (ETH can take up to 11 days) ▪ No regulatory safety net, systemic fragility Conclusion: The SEC is tacitly allowing risks! 😡 The industry exploded: VanEck, Helius, Magic Eden, and others all spoke out— 🧾 "On-chain transparency does not equal black box finance" ⚠️ "Forcing traditional models onto DeFi logic is a misreading and a misdirection" Their consensus is that the regulatory perspective is misguided. 💥 Surprisingly, even within the SEC, there is dissent. Commissioner Crenshaw rarely spoke out to refute: 🔹 The statement is merely an employee opinion and has no legal effect 🔹 Many assumptions have not been verified (notes n.11, n.18, n.24) 🔹 No clear standards were provided, instead creating more confusion She also warned users: "Don't blindly follow, stay vigilant."🚨 🔍 The focus is not actually on "staking risks", but rather: ❗ Are regulators still using "2008 thinking" to deal with "new on-chain species"? 💡 Fischer is concerned about uncontrolled risks 💡 The industry believes protocols have built-in mitigation mechanisms 💡 SEC insiders doubt that this logic holds water 📌 This is the reality: Regulators fear stepping on landmines and systemic risks; the industry fears wrongful deaths and misinterpretation of innovation; what we see is a regulatory system stuck in an old paradigm. 🔮 Conclusion: Liquidity staking is no longer a technical issue, but a litmus test for regulation. Will they continue to apply old logic, or will they attempt to understand on-chain structures? How U.S. policy evolves may determine the tone for the next regulatory cycle. Welcome to discuss👇 Which side are you on?