A Joint Application Has Been Filed with the SEC for Six Altcoins, Including Cardano! Will the SEC Take a New Step?

As regulatory efforts regarding cryptocurrencies continue in the US, an organization representing six cryptocurrency projects has launched a joint initiative to clarify the legal status of digital commodities. Accordingly, Chainlink Labs (link), Hedera (HBAR), Aptos Labs (APT), Ava Labs (AVAX), Stellar Foundation (XLM), and Cardano Foundation (ADA) have requested the U.S. Securities and Exchange Commission (SEC) to explicitly state in its regulations the approach to treating digital commodities separately from securities. Organizations want the SEC to add a direct definition of digital commodities to its proposed regulation of crypto assets, thereby reducing legal uncertainty in the sector.