#Six major blockchains join forces to pressure the SEC to recognize digital commodities
On October 20, six blockchain organizations jointly sent a letter to the SEC. The effort was led by Chainlink Labs and the Cardano Foundation, with Hedera, Aptos, Avalanche, and Stellar joining them. They have one request: clearly classify digital commodities as non-securities, instead of constantly applying securities laws to them.
Honestly, these groups have had enough. The SEC keeps changing its tune, and projects simply don’t dare make a move in the U.S. The letter was submitted on the deadline for public comments—pretty impeccable timing.
The market reaction was mixed. $LINK was quoted at 12.63 USDT, up 2.5% in 24 hours, while $ADA was at 0.227 USDT, up 1.6%—the leaders held firm. But $AVAX was quoted at 9.77 USDT, down 0.4%, and didn’t keep pace.
Looking over the list, all six are on equal footing, with established names and newer chains sitting at the same table. That, in itself, is more interesting than the letter’s contents.
Do you think the SEC will really draw a clear line, or will it drag things out for another year?
On October 20, six blockchain organizations jointly sent a letter to the SEC. The effort was led by Chainlink Labs and the Cardano Foundation, with Hedera, Aptos, Avalanche, and Stellar joining them. They have one request: clearly classify digital commodities as non-securities, instead of constantly applying securities laws to them.
Honestly, these groups have had enough. The SEC keeps changing its tune, and projects simply don’t dare make a move in the U.S. The letter was submitted on the deadline for public comments—pretty impeccable timing.
The market reaction was mixed. $LINK was quoted at 12.63 USDT, up 2.5% in 24 hours, while $ADA was at 0.227 USDT, up 1.6%—the leaders held firm. But $AVAX was quoted at 9.77 USDT, down 0.4%, and didn’t keep pace.
Looking over the list, all six are on equal footing, with established names and newer chains sitting at the same table. That, in itself, is more interesting than the letter’s contents.
Do you think the SEC will really draw a clear line, or will it drag things out for another year?