Stellar (@StellarOrg), Hedera (@hedera), Aptos (@Aptos), Avalanche (@avax), Cardano (@Cardano) and Chainlink Labs (@chainlink) are backing a joint push for clearer crypto regulation in the Un
Stellar (@StellarOrg), Hedera (@hedera), Aptos (@Aptos), Avalanche (@avax), Cardano (@Cardano) and Chainlink Labs (@chainlink) are backing a joint push for clearer crypto regulation in the United States. The groups want the SEC to codify its digital commodity framework in the text of its proposed rule, rather than leaving it in the explanatory material that accompanies it.
The six organizations are the Stellar Development Foundation, Hedera, Aptos Labs, Ava Labs, the Cardano Foundation and Chainlink Labs. According to Genfinity, they submitted a joint comment letter while the rulemaking record was still open. Their native tokens, $XLM, $HBAR, $APT, $AVAX, $ADA and $LINK, are all linked to the effort.
The proposed Regulation Crypto Assets rule currently mentions the term "digital commodity" in its preamble but not in the binding text. The signatories argue that a formal definition is needed to reduce regulatory uncertainty and support a stable legal framework for developers and ecosystem participants.
Chainlink's Taylor Barr said developers need long-term, stable regulatory certainty, and that turning existing regulatory progress into formal rules would help the U.S. remain a hub for digital asset innovation, PANews reported. The initiative is being led by Jackson Mueller, according to the same report.
The request builds on guidance issued earlier this year. On March 17, 2026, the SEC and CFTC released a joint interpretation that sorts crypto assets into five categories: digital commodities, digital collectibles, digital tools, stablecoins and digital securities, according to law firm Lowenstein Sandler. The agencies named 16 assets as examples of digital commodities, including APT, AVAX, ADA, LINK, HBAR and XLM, so the native tokens of all six signatories already appear in the SEC's own guidance.
Interpretive guidance does not carry the weight of a formal rule. Law firm Sidley noted in late 2025 that the SEC's existing guidance was non-binding and that the Commission had not adopted formal rules clarifying the security status of any crypto asset.
The SEC then proposed Regulation Crypto Assets on August 18, 2026. According to the SEC, the proposed rules include two exemptions from Securities Act registration for certain crypto investment contracts, plus a conditional safe harbor. If the safe harbor conditions are met, a crypto asset would be deemed not to be subject to an investment contract. The proposal would also preempt state securities registration and qualification requirements for offers made under the exemptions.
The signatories are asking the SEC to make the commodity definition part of that rule text, which would give the March classification a firmer footing as the rulemaking moves forward. The SEC has not yet responded publicly to the letter.
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