CTF Written Submission
Re: Staking Services Revenue Recognition Accounting Guidance
June 6, 2025
- Current application of ASC 606 results in misleading gross revenue recognition for staking service providers, treating them as principals rather than agents.
- Consensys requests SEC guidance to recognize only service fees as revenue, reflecting the economic reality of staking services.
- Misleading gross revenue treatment impacts financial transparency, investor understanding, and regulatory compliance for staking service providers.
Last Reviewed or Updated: June 6, 2025