SEC Classifies One Category of Crypto Assets as Digital Commodities, Clarifying Digital Commodities Are Not Securities

Digital commodities are a type of crypto asset whose value is inherently related to the programmatic operation of a crypto system and derives from the system's functionality as well as supply and demand dynamics, rather than from expectations of profits derived from the key management efforts of others.

Digital commodities do not possess inherent economic attributes or rights such as generating passive income or granting rights to future income, profits, or assets of an enterprise or other entity, promissor, or obligor, but may possess certain other rights.

Examples of digital commodities include:

Aptos (APT)
Avalanche (AVAX)
Bitcoin (BTC)
Bitcoin Cash (BCH)
Cardano (ADA)
Chainlink (LINK)
Dogecoin (DOGE)
Ethereum (ETH)
Hedera (HBAR)
Litecoin (LTC)
Polkadot (DOT)
Shiba Inu (SHIB)
Solana (SOL)
Stellar (XLM)
Tezos (XTZ)
XRP (XRP)

Source: Page 14 of the original report