PANews reported on May 27 that according to Cointelegraph, cryptocurrency industry organizations are urging the U.S. Securities and Exchange Commission (SEC) to issue formal guidance on staking regulation. Allison Muehr, head of staking policy at the Crypto Innovation Committee, said that clarifying the SEC's position on staking has become a top priority for the crypto industry. Although the SEC has been more active in communicating with the industry in the past four months than in the past four years, Web3 infrastructure providers still face regulatory uncertainty. Muehr revealed that the industry is pushing for the approval of staking products including the Solana ETF and has held "productive meetings" with regulators. In addition, the IRS's position of identifying staking income as service income has also been opposed by the industry, and related discussions are still ongoing.