US Digital Chamber of Commerce files on SEC and Telegram lawsuits, stating that not all digital assets should be regulated as securities

According to Cointelegraph, on January 21, in a lawsuit between Telegram and the U.S. Securities and Exchange Commission (SEC), American Digital Chamber of Commerce lawyer Lilya Tessler submitted legal documents to the court and submitted professional opinions on the case, stating that the Chamber would There is no opinion on whether tokens are securities transactions, but to ensure that the rules applicable to digital assets are sufficiently clear, the Chamber of Commerce has urged to distinguish the terms of digital assets (the subject of investment contracts) from the securities transactions associated with them. The association said that this requires two separate analyses, including whether there are investment contracts in securities transactions and whether the subjects of investment contracts are commodities that can be sold in traditional commercial transactions. At the same time, the American Digital Chamber of Commerce said that not all digital assets should be regulated as securities. Because they are based on blockchain technology, the Chamber of Commerce requested the court to confirm that a digital asset is not just a security that exists in digital form or is recorded in a blockchain database. The Chamber of Commerce also emphasized that not all transactions related to digital assets require the protection of securities laws, noting that there are many relevant regulatory agencies in addition to the SEC, and the Chamber of Commerce requested the court to consider multiple regulatory mechanisms in the case.