Lido DAO Jacob Blish, head of business development and partnerships (LDO), said in a new interview with Bloomberg that the US Securities and Exchange Commission’s (SEC) recent shutdown of Kraken’s staking program could actually benefit staking services like Lido’s.
“I get a lot of questions about whether this will affect Lido. I personally think this will have a clear benefit for on-chain liquid staking or staking providers, but it really depends on what the final decision is.”
However, Blish crypto- says it’s frustrating that its developers and projects remain in the dark about how regulators plan to approach the nascent industry.
“The most disappointing thing is that we as an industry are constantly asked for transparency, but as a US citizen, I get no information on transparency and how the regulator’s decision-making process is going.”
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The Lido DAO executive also noted that there will likely be consequences for US-based investors if government agencies continue to pursue regulation through sanctions.
“The biggest risk I personally see as a US-based person is that they come and say that you can no longer interact with or contribute to such protocols. So as a DAO contributor does that mean I can no longer work on Lido? Do I have to go and do something else?”
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According to the project’s website, there are currently more than 5.1 million in Lido Ethereum is staked.