The Solana Foundation wants to work on establishing clear regulations, but does not agree that SOL is a security.
The Securities and Exchange Commission alleged that some of the largest altcoins, such as ADA, MATIC, and SOL, are unregistered securities.
Most assets slumped in value shortly after the allegations went out. Now, though, the organizations between the blockchains and the tokens have published official statements to refute the SEC’s claims.MATIC traded at $0.9 last week, just a few days before the SEC went after Binance and Coinbase,in the lawsuits that the asset is an unregistered security. At first, MATIC declined alongside the rest of the market to $0.8.
“MATIC was a necessary part of the Polygon technology from Day 1, ensuring that the network would be secure – and remains so to this day. Given our focus on network security, we made sure MATIC was available to a wide group of persons, but only with actions that did not target the US at any time.” – the statement reads.SOL’s performance was quite similar to MATIC, given that it was also alleged to be an unregistered security.
The Solana Foundation disagrees with the characterization of SOL as a security. We welcome the continued engagement of policymakers as constructive partners on regulation to achieve legal clarity on these issues for the thousands of entrepreneurs across the U.S. building in the…
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Solana Foundation Stands Against SEC's SOL Security ClassificationIn its reply to recent allegations by US Securities and Exchange Commission (SEC), Solana Foundation firmly rejects classification of its SOL token as security
Read more »
Robinhood to Delist Cardano, Solana, and Polygon Amidst SEC Regulatory Pressure – Bitcoin News'Based on our latest review, we’ve decided to end support for Cardano (ADA), Polygon (MATIC), and Solana (SOL),' Robinhood said.
Read more »
Robinhood will end support for 3 tokens named in SEC lawsuitsOn June 27, Robinhood will end support for Cardano (ADA), Polygon (MATIC) and Solana (SOL) in response to the SEC’s cases against Coinbase and Binance.
Read more »
Biggest Movers: SOL Slightly Higher, as XRP Collides With Key Resistance Level – Market Updates Bitcoin NewsSolana moved towards the $20.00 mark on Friday, despite reports confirming that Robinhood was set to delist the token from its platform.
Read more »
Maitreyi Ramakrishnan Spills the Deets on the Foundation Brand Her TikTok Followers Have Been Obsessing OverPlus, the 'Never Have I Ever' star's favorite skincare and hair products.
Read more »