Coin Center has urged the US Securities and Exchange Commission to prioritise formal rulemaking over issuing no-action letters, warning the current approach creates inconsistency across the crypto sector.
The Washington-based policy group said case-by-case regulatory relief risks fragmenting the market and favouring projects with more resources, rather than establishing clear, uniform standards.
“Individualised relief can provide short-term clarity, but it risks fragmentation, implicit merit regulation, and uneven treatment across projects,”
Coin Center said in its letter to the regulator.
The appeal comes as the SEC recently outlined a framework for “non-security crypto assets” and introduced a taxonomy covering digital commodities, collectibles, tools, stablecoins and digital securities.
At the same time, the SEC and Commodity Futures Trading Commission signed a memorandum of understanding on March 12 to improve coordination and reduce long-standing jurisdictional conflicts.
Recent no-action letters, including one involving crypto wallet provider Phantom Technologies, have allowed certain firms to avoid enforcement action under specific conditions, reinforcing concerns about selective regulatory relief.
Coin Center argued that such an approach creates uncertainty for the broader market, while lawmakers continue advancing the CLARITY Act, which aims to define regulatory boundaries and standardise oversight across the crypto industry.