Ether is not a security.ETH pledges (Solo Staking) are not securities.Kraken’s ETH pledge product is a security.There are differences in the design of various pledge-as-a-service (STaaS) products and they need to be treated differently.Not Your Key, Not Your Asset！Ethereum is not a security. ETH Solo Staking is not a security. Kraken’s ETH Staking Product is a security. Different STaaS products require different treatments.On February 7th, 2023, the SEC’s Division of Examinations announced it...