Hedera Asks SEC to Codify HBAR's Commodity Status
- —Six organizations, including Hedera, signed the Oct. 20 letter to the SEC
- —They want the commodity definition written into rules, not just guidance
- —Secondary sales by non-issuers should be presumed outside investment contracts
- —HBAR fell from 10.47 to 7.99 cents despite a 168.4% monthly rise in transactions
Why it matters: Clearer legal status could ease trading and custody for HBAR, but it would not give holders a claim on network revenue.
Source: DailyCoin