A Legal Argument for Why Staking Doesn’t Make ETH a Security

<p><em><span style="font-weight: 400;">This episode is sponsored by</span></em> <a href= "https://pro.nexo.io/?utm_source=coindesk&utm_medium=fixed&utm_campaign=coindesk_podcast_pro_oct22"> <em><span style= "font-weight: 400;">Nexo.io</span></em></a><em><span style= "font-weight: 400;">,</span></em> <a href= "https://www.circle.com"><em><span style= "font-weight: 400;">Circle</span></em></a> <em><span style= "font-weight: 400;">and</span></em> <a href= "https://ftxusapp.onelink.me/LKX9/breakdown"><em><span style= "font-weight: 400;">FTX US</span></em></a><em><span style= "font-weight: 400;">.</span></em></p> <p> </p> <p><span style="font-weight: 400;">On this week’s “Long Reads Sunday,” NLW reads “</span><a href= "https://www.paradigm.xyz/2022/10/ethereums-new-staking-model-does-not-make-eth-a-security"><span style="font-weight: 400;">Ethereum's New ‘Staking’ Model Does Not Make ETH A Security</span></a><span style="font-weight: 400;">.” The piece was authored by:</span></p> <ul> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Rodrigo Seira, crypto counsel at Paradigm</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Amy Aixi Zhang, policy counsel at Paradigm</span></li> <li style="font-weight: 400;" aria-level="1"><span style= "font-weight: 400;">Jake Chervinsky, head of policy at the Blockchain Association, adviser at Variant Fund and board member at DeFi Education Fund</span></li> </ul> <p> </p> <p><em><span style="font-weight: 400;">-</span></em></p> <p><a href= "https://pro.nexo.io/?utm_source=coindesk&utm_medium=fixed&utm_campaign=coindesk_podcast_pro_oct22"> <strong><em>Nexo Pro</em></strong></a> <em><span style= "font-weight: 400;">allows you to trade on the spot and futures markets with a 50% discount on fees. You always get the best possible prices from all the available liquidity sources and can earn interest or borrow funds as you wait for your next trade. Get started today on</span></em> <a href= "https://pro.nexo.io/?utm_source=co