Update
Ripple and Six Blockchain Organizations Ask SEC to Adopt Crypto Rules
Ripple and six blockchain organizations, including Stellar Development Foundation, Hedera, Aptos Labs, Ava Labs, Cardano Foundation, and Chainlink Labs, filed separate letters with the Securities and Exchange Commission (SEC) on the last day of the public comment period for the agency's proposed Regulation Crypto Assets. The organizations support the proposal and ask for it to be adopted in a more durable form, with Ripple suggesting the use of a safe harbor and the inclusion of a digital commodity classification in the operative text of the proposed rule. The proposal would create new fundraising exemptions for crypto issuers raising money in the U.S.