Chainlink, Cardano and Four Others Push SEC to Lock In Digital Commodity Rule

TLDR Six blockchain groups, including Chainlink Labs and the Cardano Foundation, asked the SEC to formally classify digital commodities as non-securities. The joint letter was filed Oct. 20, the last day of the public comment period on the proposed Regulation Crypto Assets rule. The groups want the definition placed in the rule’s binding text instead of staff guidance that can change. The SEC’s framework drew about 140 comments over 60 days, and Ripple filed its own letter the same day. The letter does not change any token’s legal status today, and the SEC does not have to adopt the language. Six major blockchain organizations have asked the US Securities and Exchange Commission (SEC) to make its “digital commodity” definition official.

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