Joint letter from 6 crypto organizations to the SEC: “Let it be secured”

6 important organizations of the crypto industry sent a joint letter to the US Securities and Exchange Commission (SEC) and demanded that the issue of considering certain cryptocurrencies as commodities not be limited to SEC comments and that this perspective be guaranteed.

Institutions sending letters to the SEC;

Stellar Development Foundation, which is behind the Stellar (XLM) ecosystem,

Hedera, the ecosystem organization behind the HBAR network,

Aptos Labs, the company that developed the Aptos (APT) blockchain,

Ava Labs, the main developer of the Avalanche (AVAX) ecosystem,

Cardano Foundation, which is the foundation that supports the Cardano (ADA) ecosystem, and

It was announced as Chainlink Labs, the company that developed the Chainlink (LINK) infrastructure.

“Digital commodity definition should be added to official rules”

The institutions stated that a company's token sale may be a security, but this does not mean that that token is a security. 6 crypto institutions also stated that the status of cryptocurrencies, which were previously accepted as digital commodities by the SEC, should be protected by written rules.

The reason for writing the letter, shared yesterday by Chainlink Labs' policy manager Taylor Barr, was that the digital commodity status remained only in the comments section of the SEC's last published "Regulation Crypto Assets" rules. In other words, this issue was not included in the binding rules.

The SEC closed the comment period for this body of regulatory laws the other day. Many institutions and companies of the crypto world also supported the regulation.