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Six Blockchain Groups Ask SEC to Write Digital Commodity Status Into Crypto Rule Text — BigGo Finance

Six Blockchain Groups Ask SEC to Write Digital Commodity Status Into Crypto Rule Text — BigGo Finance

Six blockchain organizations representing major alternative-crypto ecosystems have asked the U.S. Securities and Exchange Commission to put its digital commodity classification directly into the text of its proposed crypto rulebook, rather than leaving it in explanatory material that carries no binding legal force.

In a joint letter dated Oct. 20, Chainlink Labs, the Cardano Foundation, Hedera, Aptos Labs, Ava Labs and the Stellar Development Foundation pressed the agency to fold the distinction into the proposed Regulation Crypto Assets framework. The submission landed as the SEC’s public comment window on the proposal closed Tuesday.

The groups did not dispute that the SEC has already described assets such as ADA as digital…

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