On October 20, Aptos Labs and five other crypto organizations jointly submitted comments to the U.S. Securities and Exchange Commission, calling for the proposed rule text to clearly define “digital commodities” and state that they are not securities.
For APT, this marks a development in the regulatory discussion. It does not mean the regulator has accepted the request, nor does it give APT a new legal classification. The two related reports currently available are highly similar in content and should not be treated as two independent confirmations.
A separate market observation from that day reported an APT funding rate of -0.0066%. This is a single data point and is not enough to determine how the market is absorbing the joint comments. Specific figures on fee burns and changes in supply have also so far appeared only in one account and remain unverified.
Next, the key things to watch are the original text of the comments, whether the regulator revises the rule text, and whether APT-specific data can be independently verified. If the final rule does not adopt this request, would the joint submission still count as substantive progress for APT?
For APT, this marks a development in the regulatory discussion. It does not mean the regulator has accepted the request, nor does it give APT a new legal classification. The two related reports currently available are highly similar in content and should not be treated as two independent confirmations.
A separate market observation from that day reported an APT funding rate of -0.0066%. This is a single data point and is not enough to determine how the market is absorbing the joint comments. Specific figures on fee burns and changes in supply have also so far appeared only in one account and remain unverified.
Next, the key things to watch are the original text of the comments, whether the regulator revises the rule text, and whether APT-specific data can be independently verified. If the final rule does not adopt this request, would the joint submission still count as substantive progress for APT?