>Is it a "promise" if it's a guaranteed algorithmic result? No, and that's what decentralized staking is. That's fine and the SEC is explicitly not taking issu

>Is it a "promise" if it's a guaranteed algorithmic result? No, and that's what decentralized staking is. That's fine and the SEC is explicitly not taking issue with it. Centralized 'promising to engage in decentralized staking on a customer's behalf' is not guaranteed or algorithmic-- which is why it necessarily causes said customers to "take on risks associated with those [centralized] platforms," to quote the SEC, and thus becomes a security.