SEC Commissioner Caroline Crenshaw criticized the announcement, claiming it paints an incomplete picture and underestimates the risks associated with staking

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SEC Commissioner Caroline Crenshaw issued a sharp rebuke on Thursday, declaring crypto staking activities exempt from securities regulation run counter to applicable laws.

Meanwhile, Democrat SEC Commissioner Caroline Crenshaw criticized the latest statement from the Division of Corporate Finance, saying that it paints an "incomplete picture" of the law around crypto, minimizing "significant" risks the products pose to investors.