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Paul Hastings Advises Proof of Stake Alliance as it Advances “Staking as a Service” Industry Driven Solution

May 14, 2020

New York, Los Angeles, and Washington, D.C. – Paul Hastings LLP, a leading global law firm, has advised The Proof of Stake Alliance (POSA), a community-driven advocacy organization for Proof of Stake (PoS) technology, which announced an industry driven solution that advances operating standards for staking service providers.

The firm has been assisting POSA on SEC regulatory, IRS tax policy and Congressional legislative matters that implicate the Staking as a Service (STaaS) market. Recently, the firm provided legal analysis for a white paper POSA submitted to the SEC along with a comprehensive overview of PoS and the STaaS market.

“The proof of stake consensus mechanism is a demonstrable improvement over proof of work where miners consume significant amounts of energy to solve blocks,” said Michael Zuppone, partner, Paul Hastings LLP. “We appreciate the opportunity to support the Alliance’s dialogue with the SEC as it seeks to advance the interests of the Staking as a Service market.”

The Paul Hastings team was led by Corporate partner Michael Zuppone, and included Dina Ellis Rochkind and Stephen Turanchik.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.