Republican lawmakers Patrick McHenry and Tom Emmer have called on the SEC to clarify its stance on airdrops, accusing the agency of creating a regulatory environment that discourages U.S. participation. The SEC has implied in previous cases that airdrops may be considered securities sales, which McHenry and Emmer argue restricts the potential of blockchain technology. They also asked the SEC to clarify how it distinguishes airdrops from rewards like airline miles or credit card points, with a response expected by Sept. 30. Upcoming hearings, including one on Sept. 24, will focus on the SEC's crypto regulations. Source: The Block
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