Almost 30 groups of cryptographic defenders led by the Lobby group, the Crypto Council for Innovation (CCI), have requested from the Bag and Securities Commission a clear regulatory guide on the cryptographic services of commitment and extrakking.
The Test Group of the Alliance (Posa) of the ICC argued in the letter of April 30 to the leading agencies of the Crypto task force, the DEC Hester Peirce Commissioner, which Strike is fundamentally a technical process, not an investment activity.
“The strike is not a niche, it is the backbone of decentralized Internet,” the letter said.
The letter responded to the call of the SEC to public contributions on whether Strike and Liquid Strike, where cryptography users block their to win more, must be regulated under federal values of values.
The coalition requested that the SD support the inclusion of response to the attack characteristics in the products quoted in the stock market (ETPs), and “avoid excessive prescriptive rules that can freeze market structures and quell innovation in the attack space.”
The Group argued that the strike does not meet the values that define the definition of Howey’s test of an “investment contract” as strikers retain ownership of their assets.
They added that Blockchain protocols, not the efforts of a strike supplier, determine the rewards, and the suppliers do not offer profits through management decisions as a company does.
The letter requested that the SEC issue a guide based on principles similar to the recent statements of the SEC personnel on work proof mining.
“In the last 4 months, we have seen more movement and constructive dialogue with the SEC than in the last 4 years,” said the group. “Now, the industry is intensifying concrete principles to include in guide, a reflection of this new collaborative approach.”
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The group argued that the existing dissemination regime is not suitable for strike services, which are of a fundamental nature rather than financial.
Great names in support of strike clarity
The stake test of the Alliance includes several organizations and companies of high profile cryptocurrencies, including the venture capital firm Andreessen Horowitz (A16Z), the software firm Blockchain Consensys and the Exchange Kraken crypto, Whored Stake.
The SEC has not yet approached a fund quoted by the exchange (ETF) of Crypto Strike and delayed the decision to allow the strike for the spot ETF of Grayscale EA-Eth on April 14.
In April, Bloomberg Etf analyst James Seyffart predicted that an ETF of ether that includes the strike could come as soon as May.
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