Solana Foundation rejects the classification of the SOL token as a security
The developers emphasized the importance of the decentralized model of the network
09.06.2023 - 13:00
297
1 min
0
Last updated on Aug 5, 2024
The Solana Foundation is disputing the U.S. Security and Exchange Commission’s (SEC) classification of its SOL token as an unregistered security.
Earlier this week, the SEC filed lawsuits against crypto exchanges Binance.US and Coinbase, which charged the exchanges with trading crypto asset securities, including SOL.
“The Solana Foundation strongly believes that SOL is not a security,” the Solana Foundation told CoinDesk in a statement. “SOL is the native token to the Solana blockchain, a robust, open-source, community-based software project that relies on decentralized user and developer engagement to expand and evolve.”
At Solana’s Thursday hacker house event in New York City, New York it appeared the Solana community wasn’t overly concerned with the chain’s regulatory nuisances.
“I don’t think any of the developers give a shit,” a developer told CoinDesk at the hacker house on Thursday. “SOL being a security doesn’t really affect anyone building on top of Solana.”
In its Binance.US and Coinbase lawsuits, the SEC also identified tokens issued by foundations and companies or tied to protocols Cardano (ADA), Polygon (MATIC), Sandbox (SAND), Filecoin (FIL), Axie Infinity (AXS), Chiliz (CHZ), Flow (FLOW), Internet Computer (ICP), Near (NEAR), Voyager (VGX), Dash (DASH) and Nexo (NEXO) as securities.
This material is taken from the website https://www.coindesk.com.
Useful material?
Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024