According to Wu Blockchain, the SEC's Corporate Finance Division has released a FAQ on the application of federal securities laws related to crypto assets, further clarifying the classification of crypto assets and investment contract assessments outlined in the March 17 'Interpretive Release.' The document states that if a Staking Receipt Token is merely a certificate of ownership for a non-investment contract digital commodity, it can be classified as a digital tool; however, if issued by a protocol-based Liquid Staking Provider, it may also be classified as a digital commodity. Regarding investment contract assessments, simply promoting the existing functionality of a crypto system or using vague statements about potential functionality without involving profit expectations is generally insufficient to constitute a commitment to "critical managerial efforts." Once a system reaches a functional state, activities such as maintaining, improving, enhancing the system, or fostering network effects typically do not fall under critical managerial efforts. https://(wublock123.com)/news/sec-finance-office-crypto-securities-faq-staking-repurchase-investment-contracts-69026