Chainlink, Cardano, other blockchain groups push SEC for clearer crypto rules

Six major blockchain organizations urged the SEC to formally recognize digital commodities as non-securities in its proposed regulatory framework.Six major blockchain organizations, including Chainlink Labs and the Cardano Foundation, have urged the US Securities and Exchange Commission (SEC) to formally classify digital commodities as non-securities, as the agency’s public consultation on proposed crypto regulations came to a close Tuesday.In a joint letter dated Oct. 20, Chainlink Labs, the Cardano Foundation, Hedera, Aptos Labs, Ava Labs and the Stellar Development Foundation called on the SEC to incorporate its digital commodity classification directly into the proposed Regulation Crypto Assets framework, arguing that interpretive guidance alone leaves market participants facing legal uncertainty.The groups argued that the SEC’s existing interpretation recognizes digital commodities as a distinct category but that the proposed rules fail to explicitly reflect that distinction, potentially leaving developers and other market participants uncertain about which securities regulations apply.Source: Taylor BarrThe letter also seeks greater clarity on how securities laws apply to sec...