Six major blockchain organizations have submitted a joint letter to the US Securities and Exchange Commission, requesting that the agency formally classify digital commodities as non-securities. The group includes Chainlink Labs, the Cardano Foundation, Hedera, Aptos Labs, Ava Labs, and the Stellar Development Foundation.
The organizations argue that the current proposed Regulation Crypto Assets framework lacks explicit distinctions between digital commodities and securities. They contend that relying on interpretive guidance creates legal uncertainty for developers and market participants regarding the application of securities regulations.
The letter also requests further clarification on the application of securities laws to secondary-market transactions. Additionally, the groups seek guidance on the regulatory treatment of staking and other activities inherent to decentralized blockchain networks.
The SEC introduced its proposed crypto framework in August. The agency concluded a 60-day public consultation period on Tuesday, during which it received approximately 140 public comments from industry participants and legal scholars regarding potential exemptions and safe harbors.
