Chainlink, Cardano Urge SEC to Clarify Crypto Rules

Six major blockchain organizations, including Chainlink Labs and the Cardano Foundation, are urging the U.S. Securities and Exchange Commission to explicitly classify digital commodities as non-securities in its proposed Regulation Crypto Assets framework. The request came in a joint letter dated October 20 as the SEC’s 60-day public consultation neared its conclusion.

The groups are joined by Hedera, Aptos Labs, Ava Labs and the Stellar Development Foundation. They argue that the SEC’s existing interpretation recognizes digital commodities as a distinct category, but the proposed rules do not directly reflect that distinction, potentially leaving developers and other market participants uncertain about which securities laws apply.

The letter also seeks greater clarity on secondary-market transactions involving digital assets, as well as staking and other activities associated with decentralized blockchain networks. The SEC introduced its crypto framework in August and received roughly 140 public comments during the consultation period, with industry participants and legal scholars debating proposed exemptions for crypto offerings and a conditional safe harbor for certain tokens.