Chainlink, Cardano and Five Other Organizations Demand SEC to Clarify Digital Assets as Non-Securities

Six blockchain-related organizations, including Chainlink and Cardano, have demanded that the U.S. Securities and Exchange Commission (SEC) clearly define digital assets as separate assets rather than securities. They argued that the SEC should reflect relevant classifications in its proposed digital asset regulatory framework to eliminate legal uncertainties. On the 20th, Chainlink Labs, the Cardano Foundation, Hedera, Aptos Labs, Ava Labs, and the Stellar Development Foundation submitted a joint comment letter to the SEC. They pointed out that while the SEC's existing interpretation recognizes digital assets as separate assets, this distinction is not explicitly reflected in the currently proposed regulatory framework. They claimed that guidance alone does not provide sufficient legal certainty for market participants and emphasized the need to codify the non-security status of digital assets. The joint comment letter also included a request for clarification on the application of securities laws to secondary market transactions of digital assets. The SEC proposed a digital asset regulatory framework called 'Regulation Crypto Assets' in August and received about 140 comments over a 60-day period. This joint comment letter focused on the need for the SEC to incorporate its existing interpretations into actual regulatory provisions.

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