Chainlink, Cardano, Others Urge SEC for Clearer Crypto Rules
A coalition of blockchain organizations, including teams behind Chainlink and Cardano, has formally petitioned the U.S. Securities and Exchange Commission to issue clearer, more predictable rules for digital assets. The move reflects growing frustration across the industry, where projects face conflicting guidance, costly legal battles, and a patchwork of state and federal interpretations. Rather than seeking exemptions or special treatment, the groups argue that the SEC's current approach—enforcement actions without clear rulemaking—creates an impossible environment for builders and users alike.
The core demand is straightforward: the SEC should define which digital assets are securities, which are commodities, and how decentralized networks fit into existing frameworks. Chainlink's oracle infrastructure and Cardano's proof-of-stake network both operate globally, yet their legal status in the U.S. remains ambiguous. This uncertainty forces projects to divert resources toward legal compliance rather than product development, and it discourages institutional participation. The petitioners emphasize that clarity would not weaken investor protections—it would strengthen them by allowing compliant projects to operate openly rather than in legal gray zones.
Why This Push Matters Now
The timing is significant. With the SEC's aggressive enforcement posture facing judicial pushback and Congress debating new legislation, the industry sees a window to shape policy. The groups are not asking for deregulation; they are asking for the SEC to use its existing authority to issue rules through proper notice-and-comment procedures, rather than relying on case-by-case litigation. They point to successful frameworks in other jurisdictions—such as the EU's Markets in Crypto-Assets Regulation—as proof that thoughtful rules can protect consumers while fostering innovation.
Critics within the crypto community remain skeptical, noting that the SEC has historically been slow to act and may view these petitions as a stalling tactic. However, the collective action from major projects signals a strategic shift: instead of fighting individual enforcement actions, the industry is now pushing for systemic change. If the SEC responds with a formal rulemaking process, it could reshape the entire U.S. crypto landscape. If it ignores the petition, the industry may take its case to Congress or the courts with renewed vigor. Either way, the pressure for clarity is no longer a fringe demand—it is a coordinated, mainstream priority.