I'm out of the loop. Does this affect ETH's new proof-of-stake model? Is the SEC effectively saying, "this is close enough to a pyramid scheme for us to ban"?
This isn't about staking being a problem, it's about 3rd parties staking on behalf of users being a problem. Users aren't being banned from staking for themselves at home on Ethereum or any other networks.
Edit: there's no reason to think that staking is a Ponzi scheme. It doesn't rely on new money coming in to pay previous investors since the protocol creates new assets. Every participant can sell their holdings and systems such as Ethereum's proof of stake will continue to pay the validator.
