Six Blockchain Groups Urge SEC to Write Digital Commodity Status Into Crypto Rules

Six major blockchain organizations, Chainlink Labs, the Cardano Foundation, Hedera, Aptos Labs, Ava Labs and the Stellar Development Foundation, have asked the SEC to formally classify digital commodities as non-securities. Their joint letter, dated Oct. 20, arrived as the agency’s public consultation on its proposed crypto regulations closed on Tuesday. The groups want the classification built directly into the proposed Regulation Crypto Assets framework.

Why Guidance Alone Is Not Enough

The signatories argued that the SEC’s existing interpretation already treats digital commodities as a distinct category, but the proposed rules do not clearly reflect that. They said relying on interpretive guidance leaves developers and other market participants unsure which securities regulations apply to them, creating ongoing legal risk.

Secondary Markets and Staking

The letter also asks for more clarity on how securities laws apply to secondary market transactions involving digital assets. It further seeks guidance on the treatment of staking and other activities tied to decentralized blockchain networks.

Consultation Drew Roughly 140 Comments

The SEC introduced its proposed crypto framework in August, and the 60 day consultation collected about 140 public comments. Industry participants and legal scholars offered competing views on the proposed exemptions for crypto offerings and the conditional safe harbor for certain tokens.