11 industry leaders discuss effective ways to ensure compliant staking

cointelegraph.com:

As even late-night talk show hosts begin to weigh in on events in the crypto industry, it’s clear the public is increasingly paying attention to both the potential and challenges of investing in crypto. Of even more immediate concern to crypto companies, though, are the questions around the type and number of legislative guardrails lawmakers will inevitably impose.

As regulators start to eye staking protocols, companies must ensure they engage in the ongoing work of ensuring that their staking is compliant. Below, 11 members of Cointelegraph Innovation Circle discuss effective ways for companies to ensure compliant staking as the industry continues to evolve.

Companies can ensure compliant staking by conducting due diligence on the associated risks, establishing governance structures, monitoring activities, implementing transparent reporting and engaging with regulators while seeking legal advice. – Erki Koldits, OÜ Popspot

Recent crackdowns on crypto staking have largely centered around vague service language and poorly documented processes. That’s why risks and procedures should be properly disclosed to ensure users have the information they need to make an informed decision. As such, leaders must be transparent about how staking works on their platforms so it can remain a viable pathway for their communities. – Oleksandr Lutskevych, CEX.IO

The safest way to remain compliant is to consult a crypto-focused and/or securities-focused lawyer in the area in which the project is operating. Regulations can change quickly, and there are nuances that a professional would both be aware of and know how to best navigate. – Anthony Georgiades, Pastel Network

Companies should be aware different jurisdictions will have different