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.
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.
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 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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