Six leading blockchain organizations, including Chainlink Labs and the Cardano Foundation, have called on the US Securities and Exchange Commission (SEC) to formally classify digital commodities as non-securities in its proposed regulatory framework. The joint letter, submitted on October 20, urges the SEC to explicitly recognize digital commodities as a distinct category in the proposed Regulation Crypto Assets framework. The groups argue that current interpretive guidance is insufficient, leaving developers and market participants uncertain about applicable securities regulations.
The letter also seeks clarity on how securities laws apply to secondary-market transactions involving digital assets, as well as the treatment of staking and other activities related to decentralized blockchain networks. The SEC’s proposed crypto framework, introduced in August, received around 140 public comments over a 60-day period, with varied opinions from industry participants and legal scholars on proposed exemptions and safe harbors for certain tokens.