Av Labs and 2 others submit DeFi lending securities law interpretation to SEC

Aave Labs, Kamino Foundation, and Veda Tech Labs submitted a joint document to the U.S. SEC on October 26 addressing how securities law applies to DeFi lending protocols and non-custodial vaults, with Aave Labs disclosing the filing in a public summary on November 2. The three entities argue that legal classification should hinge on users' asset rights and the scope of operators' control, and they requested staff meetings with the SEC's crypto asset task force and Division of Corporation Finance. The detailed submission remains confidential and is not a legislative amendment or exemption request but an application of existing securities law to specific DeFi structures. The filing matters because it seeks regulatory clarity for DeFi lending and vault models that could shape how U.S. securities rules treat non-custodial products. What to watch next is whether the SEC engages with the request and whether the framework influences future guidance or enforcement affecting DeFi protocols.