Six Blockchain Groups Seek SEC Presumption for Digital Commodity Resales
Photo: TokenPost
Six blockchain groups asked the SEC to presume that some secondary-market sales of digital commodities do not involve investment contracts when no issuer representations or promises about essential managerial efforts remain outstanding. Their proposal would set a condition for when resale activity by people other than issuers receives that treatment. The comment arrived Tuesday, Oct. 20, the closing date for responses to Regulation Crypto Assets. The participating organizations are Stellar Development Foundation, Hedera, Aptos Labs, Ava Labs, Cardano Foundation and Chainlink Labs. The request follows the groups’ earlier effort to put a digital commodity definition in the rule .
Source: TokenPost
