Blockchain groups press SEC on staking and secondary trading as FCA moves to define DeFi

Six blockchain organizations—Chainlink Labs, the Cardano Foundation, Hedera, Aptos Labs, Ava Labs and the Stellar Development Foundation—asked the SEC to classify digital commodities as non-securities within its proposed Regulation Crypto Assets framework rather than interpretive guidance, and to clarify securities-law treatment for secondary trading and staking. They said unclear rules leave developers and market participants guessing whether securities laws apply. The SEC and CFTC in March placed crypto assets into five categories, including digital commodities, and the SEC's August proposal has drawn more than 100 comments. Separately, the UK's Financial Conduct Authority opened two decentralized-finance consultations on October 21, 2026, closing November 18, 2026, with final guidance planned for January 2027.