Purpose of the Proposal
The “CLARITY Act,” passed by the U.S. House on July 17, 2025, offers the opportunity to classify tokens on mature blockchains as commodities, avoiding SEC regulation and operating under CFTC oversight. This proposal outlines steps for IRISnet to comply.
U.S. Regulatory Requirements
- A token is deemed “mature” if a single entity does not hold over 20% of the token supply for 4+ years.
- Validators must be decentralized with no centralized control.
- Token sales up to $75 million require disclosure compliance.
- Post-exchange listing, tokens are treated as commodities under CFTC rules.
Request for Address Verification
- Investigation is needed to confirm whether the addresses (https://irishub.iobscan.io/#/address/iaa1w7ewedr57z6p7f8nknmdvukfxwkwlsvfjumdts and https://irishub.iobscan.io/#/address/iaa156lnmahxx53yxduxax7pu6rdf6dy44edejtnpk) belong to the IRIS Foundation.
Call for Collaborative Action
- If the above addresses are confirmed as belonging to the IRIS Foundation, there is a risk that token holdings exceed 20%. We propose that the IRIS Foundation and community collaborate to explore any effective solutions.
- We seek community input to implement these actions promptly.