Reps. Tom Emmer and Patrick McHenry have written a letter to SEC Chairman Gary Gensler asking him to clarify whether crypto airdrops are securities transactions. 📩

Emmer emphasized that airdrops encourage participation in blockchain-based applications and are important for decentralizing this technology. The SEC’s vague stance prevents Americans from benefiting from this innovation.

The SEC’s treatment of airdrops as securities could limit the potential of this technology. Emmer and McHenry are calling on the SEC to clarify its stance on the issue.