Aave, Kamino and Veda Press SEC for Clearer DeFi Lending Rules

TL;DR: Aave Labs, Kamino, and Veda submitted a confidential legal document to the SEC on October 26, 2026, and released their technical summary on November 2, 2026. The technical analysis contends that transactions do not constitute debt notes or investment contracts under the Howey test, as there are no centralized counterparties or promises of return. The organizations formalized the petition before the Crypto Task Force and the Division of Corporation Finance without requesting an exemption or regulatory safe harbor. Aave Labs , Kamino, and Veda submitted a coordinated regulatory proposal to the SEC to establish definitive criteria regarding the operation of DeFi loans.

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