Thomas Daniels
Nhungamiro ichangoburwa yakapihwa neUS Securities and Exchange Commission (SEC) maererano nekukwira kwemvura yaunza tarisiro yekuchenjera pakati pevanoisa mari mumasangano, panguva imwe cheteyo ichifumura kusagadziriswa kwemitemo uye kusagadzikana kwemutemo.
Musi waNyamavhuvhu 5, 2025, iyo SEC's Division of Corporation Finance yakapa chirevo ichijekesa kuti mamwe maitiro ekuisa mvura-kunyanya ayo ekuti vanopa masevhisi vanoita basa rekutonga kana hushumiri uye vanoburitsa maresiti emunhu-kune-haaite zvinopihwa securities pasi peSecurities Act ye1933 Act1934.
Zvisinei, chirevo ichi hachisungiridzi uye chinomiririra maonero evashandi mukati mechikamu, kwete chinzvimbo chepamutemo cheKomisheni pachayo. Saka nekudaro, inoramba iri pasi pekududzirwa uye nekugona kupikisa kwemutemo.
Komisheni weSEC Caroline Crenshaw akashoropodza gwara iri pachena, achiritsanangura se "risina kujeka pane kujekesa" uye yambiro kuti kunyangwe kutsauka kudiki kubva kumaitiro akatsanangurwa zvishoma kunogona kukonzera kurapa kwakasiyana.
Kumwe kusahadzika kwakataurwa neaimbova mukuru wevashandi veSEC Amanda Fischer, uyo akafananidza pakati pemvura staking uye maitiro ekudzokorora izvo zvakakonzera kusagadzikana kwehurongwa panguva yedambudziko remari ra2008.
Kunze kwemutemo wezvivimbiso, mibvunzo yakaoma ine chekuita nemitero inoramba yakavhurika. Imwe yenyaya dzinonyanya kudzvanya ndeyekuti mibairo yekutemesa inobhadhariswa mutero kana wapihwa kana pawakapihwa. Kusavimbika uku kunokanganisa kuteedzera kune vese vatengesi uye vatori vechikamu, kusanganisira vanopa ETF.
Zvakare, iyo mamiriro eiyo grantor trust yemitero mitemo inoenderera mberi ichikanganisa kubatanidzwa kwe staking straking mumari inotengeswa. Kusvika mibvunzo iyi yagadziriswa, kuwedzera kwezvigadzirwa zvemari zvakatemerwa mumotokari huru dzekudyara kungangoramba kuri kushoma.
Zvisinei nekuoma uku, nhungamiro yevashandi inoratidza danho rakayerwa rekuti kugamuchirwe kwemvura inoiswa nevanoisa mari mumasangano. Zvakadaro, inosimbisawo kudiwa kwekukurumidzira kwekujekeswa kwakadzama kwemitemo mukati mesecurities classification, mutemo wemitero, uye kuumbwa kwehomwe.
