A united group of six blockchain organizations is currently petitioning the SEC to make a vital regulatory clarification. We proudly co-signed a formal letter to the agency alongside our industry peers @StellarOrg, @Hedera, @AptosLabs, @AvaLabs and @Chainlink.
Our collective request centers on a decision made earlier this year when the commission categorized $ADA as a digital commodity rather than a security. While this was a welcome distinction, that specific classification was only detailed in the commentary explaining the new crypto guidelines, instead of being embedded in the actual regulations. The letter we submitted simply asks the SEC to take the next logical step and write this digital commodity status directly into the official rules.
Our collective request centers on a decision made earlier this year when the commission categorized $ADA as a digital commodity rather than a security. While this was a welcome distinction, that specific classification was only detailed in the commentary explaining the new crypto guidelines, instead of being embedded in the actual regulations. The letter we submitted simply asks the SEC to take the next logical step and write this digital commodity status directly into the official rules.
