SUI News: Mysten Labs Met US SEC Crypto Task Force Ahead of ETF Decision

Sui News: Mysten Labs met with US SEC Crypto Task Force to address regulatory issues related to assets as the ETF decision nears.
By Varinder Singh
Updated 1 hour ago
SUI News: Mysten Labs Met US SEC Crypto Task Force Ahead of ETF Decision

Highlights

  • Sui blockchain developer Mysten Labs and legal Counsel met with US SEC Crypto Task Force.
  • The firm plans to express interest in providing input on regulating blockchain and digital assets.
  • Mysten Labs highlighted Sui use cases as the SEC's decision on SUI ETF nears.

SUI News: Sui blockchain developer Mysten Labs and its legal counsel met with the U.S. Securities and Exchange Commission (SEC). The move comes amid various ETF applications tracking spot prices of SUI, with the commission’s final decision on applications nears.

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Sui News: Mysten Labs Meets with US SEC

Mysten Labs, a developer of the Sui blockchain, along with its representatives from Sidley Austin LLP, met with the SEC Crypto Task Force on September 9. Earlier this week, the firm requested a meeting with the Crypto Task Force and Commissioner Hester Peirce to address regulatory issues related to crypto assets, including Sui.

The blockchain technology company highlighted the Sui blockchain as a high-performance, decentralized network with advanced security, low latency, and high throughput. The blockchain supports several decentralized products, with the Sui Name Service (SuiNS), decentralized liquidity layer DeepBook, and decentralized data storage protocol Walrus as key innovations.

Mysten Labs commits to promoting a regulatory environment supporting innovation, expressing interest in providing input on regulating blockchain and digital assets. The move comes as the SEC develops policies and rules pushing crypto adoption.

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Sui News: US SEC’s Decision on ETF Nears

The U.S. SEC continues to delay its decision on spot SUI ETFs by 21Shares and Canary. Considering the final decision on the Sui ETF applications and the Generic Listing Standards approaching, Mysten Labs likely met with the Crypto Task Force on SUI’s use cases and contributions to the crypto industry.

The developer proposed that the SEC could grant an exemptive relief through self-certification and ongoing disclosures for legacy projects. As CoinGape reported earlier, the SEC Crypto Task Force is meeting with many companies as the Trump administration pushes for clear crypto regulations.

SUI Price Chart
SUI Price Chart. Source: TradingView

SUI price jumped almost 7% in a week, with volatile price action in the last 24 hours. The price is trading at $3.51, with an intraday low and high of $3.43 and $3.56, respectively. Trading volume increased more than 13% over the last 24 hours, indicating interest among traders. Analysts such as Ali Martinez expect the price to reclaim above $5 after ETF approval.

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Varinder Singh
Varinder is a seasoned leader in the fintech and crypto media with over 12 years of experience, including over 6 years dedicated to blockchain, crypto, and Web3 developments. He is known for covering high-impact and quality news stories for publishers such as CoinGape, The Coin Republic, and The Crypto Times, while perfecting and training multiple journalists during his tenure. Being a Master of Technology degree holder, analytics thinker, and tech enthusiast, he has shared his knowledge of disruptive technologies in over 5000 news articles and papers.
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