Mysten Labs, the developer behind the Sui blockchain, has met with the U.S. Securities and Exchange Commission (SEC) Crypto Task Force to discuss key regulatory matters ahead of the much-anticipated decision on SUI exchange-traded fund (ETF) applications.
Mysten Labs Meets SEC Officials
On September 9, Mysten Labs, alongside representatives from law firm Sidley Austin LLP, held discussions with the SEC’s Crypto Task Force. The meeting followed an earlier request to meet with Commissioner Hester Peirce and regulators to address how Sui and other blockchain assets fit within the current U.S. legal framework.
During the session, Mysten Labs highlighted Sui’s technical strengths, including low latency, strong security, and high throughput. The company also showcased its growing ecosystem, featuring Sui Name Service (SuiNS), decentralized liquidity hub DeepBook, and decentralized storage solution Walrus.
Mysten Labs stressed its commitment to supporting a balanced regulatory environment that promotes blockchain innovation. The firm expressed its willingness to provide input on policy design as the SEC works on clearer crypto rules under the Trump administration.
ETF Decision Approaches
The SEC continues to delay its verdict on spot SUI ETF applications submitted by 21Shares and Canary. With deadlines for final decisions drawing near, Mysten Labs is believed to have presented Sui’s potential contributions to the wider digital asset market as part of its discussions.
The developer has also suggested possible exemptive relief mechanisms, including self-certification and enhanced disclosures for established blockchain projects, as a pathway to ETF approval.
SUI Market Reaction
The SUI token price has reacted positively, gaining nearly 7% in the past week. At the time of writing, SUI trades around $3.51, fluctuating between $3.43 and $3.56 in the last 24 hours. Trading volume surged by over 13%, signaling growing investor interest. Analysts such as Ali Martinez predict that approval of a SUI ETF could propel the price above $5 in the near term.
