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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/lawmakers-seek-secs-stance-on-airdrops" data-wpel-link="internal" rel="noopener noreferrer nofollow">Lawmakers Seek SEC’s Stance on Airdrops</a><br></p>
<p style="text-align: justify">In the United States, two prominent lawmakers are pressing for clarification on the Securities and Exchange Commission’s (SEC) regulatory perspective regarding cryptocurrency airdrops. They have addressed their concerns in a letter to SEC Chairman Gary Gensler, emphasizing the need for a regulatory framework that supports rather than stifles innovation in the decentralized finance ecosystem.</p>
<h2 id="why-is-the-sec-s-stance-criticized">Why is the SEC’s Stance Criticized?</h2>
<p style="text-align: justify">The lawmakers, Representatives Patrick McHenry of North Carolina and Tom Emmer of Minnesota, have criticized the SEC’s regulatory actions, which they claim create a hostile environment for technological advancement. They argue that the Commission’s ongoing legal actions and warnings deter American innovation and the development of the next generation of the internet.</p>
<h2 id="what-implications-arise-from-sec-s-classification">What Implications Arise from SEC’s Classification?</h2>
<p style="text-align: justify">The classification of airdrops as securities by the SEC has significant implications. The case against crypto mogul Justin Sun and his entities for unregistered BTT <a href="https://en.bitcoinhaber.net/brett-coin-eyes-potential-recovery" data-wpel-link="internal" rel="noopener noreferrer nofollow">token</a> airdrops underscores this. The lawmakers are seeking clarity on how these actions relate to the Howey Test, a legal standard used to determine whether a transaction qualifies as an investment contract.</p>
<p style="text-align: justify">The lawmakers have questioned whether the SEC categorizes free digital assets under the Howey Test, drawing comparisons to non-monetary rewards like airline miles, which do not typically invoke such scrutiny. They are urging the SEC to delineate how it distinguishes these scenarios.</p>
<p style="text-align: justify">Key points raised by the lawmakers include:</p>
<ul>
 <li>The necessity for a clear and supportive regulatory framework for airdrops.</li>
 <li>Concerns about the SEC’s impact on innovation in decentralized finance.</li>
 <li>Request for transparency regarding the application of the Howey Test to digital assets.</li>
</ul>
<p style="text-align: justify">The lawmakers have requested a detailed response by the end of September, believing that regulatory clarity is crucial for fostering innovation and ensuring that the United States remains a leader in technological advancements. Their call to action highlights the importance of adapting traditional regulatory measures to fit the dynamic nature of the cryptocurrency space.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/lawmakers-seek-secs-stance-on-airdrops" data-wpel-link="internal" rel="noopener noreferrer nofollow">Lawmakers Seek SEC’s Stance on Airdrops</a></h5>

Lawmakers Seek SEC’s Stance on Airdrops

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