Specifically, "ancillary" services encompass self staking, self-custodial staking with a third party, and custodial arrangements where custodians stake on behalf of asset owners.
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SEC says proof-of-stake staking activities do not constitute securities transactions
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The SEC’s Division of Corporation Finance explicitly stated that self-staking, staking through a delegated node operator while maintaining custody, and custodial staking performed by third parties on behalf of users do not constitute securities transactions
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