Dr. Katharina Lasota Heller as a co-author of the 'Paper on Staking Services on Proof-of-Stake Protocols'| CVA Regulatory Working Group
We are pleased to announce that Dr. Katharina Lasota Heller (Founding & Managing Partner at LEXCELLENCE, Attorney at law, Ph.D. Lecturer at Kozminski University, Co-Head of the Regulatory Working Group at the Crypto Valley Association and President of Swiss-Polish Blockchain Association) is one of the authors of the newest Crypto Valley Association publication: 'Paper on Staking Services on Proof-of-Stake Protocols'. The paper was published on December 12, 2023. The CVA Regulatory Working Group paper is reflecting the Swiss crypto industry's critical regulatory moment concerning crypto staking. This practice involves crypto holders supporting blockchain networks and receiving rewards for validating services. The paper addresses concerns raised by FINMA that entities offering staking services might need a banking license due to potential risks associated with staked assets not consistently being available for clients during slashing and unstaking periods.
Dr. Katharina Lasota Heller contributed the paper together with a group of prominent regulatory experts:
- Fabio Andreotti
- Julien Binder
- Dominik Hofmann
- Dongliang Liang
- Reto Luthiger
- Christine McAteer
- Timea Nagy
- Alexander Smith
- Joshua Taucher
CVA's main objective is to demonstrate, through a detailed examination of technological designs and potential technical measures, that many custodial staking services fall outside the Banking Act's scope. This would obviate the need for a banking license and circumvent prohibitive capital adequacy requirements. The argument hinges on the notion that, in most staking agreements, holders or custodians maintain direct control over staked assets, contingent on the specific technological design of the staking service.
The document is available for download, providing a valuable resource for industry stakeholders grappling with the evolving regulatory landscape surrounding crypto staking. The CVA expresses gratitude to members of the Regulatory Working Group who contributed to this insightful paper.
Officially published on: https://members.cryptovalley.swiss/news/1799486
