Blockchain companies demand SEC codify digital commodity status

Six major blockchain projects have sent a joint letter to the U.S. Securities and Exchange Commission urging it to officially codify the legal status of crypto assets in regulatory rules.

The initiative is supported by Stellar, Hedera, Aptos Labs, Ava Labs, Cardano Foundation, and Chainlink Labs. Market participants propose adding the definition of a "digital commodity" directly into the text of regulations.

Currently, this classification appears only in the explanatory part of the document and is not mandatory for application. Organizations consider this an oversight that limits legal certainty.

The letter also proposes clearly stating that a digital commodity itself is not considered a security, even if it is linked to an investment contract.

According to developers and foundations, such changes will help create a stable legal framework for creators of blockchain infrastructure and participants in secondary asset markets.