The Solana Foundation “disagrees with the characterization of SOL as a security”, a thread published on June 10 reads. In addition, the SOL Foundation does not expect the SEC’s claims will disrupt developer activity. The Foundation also called on U.S. policymakers to focus clearer rules for the benefit of investors and providers alike. The coin was down 1.02% on Monday, per CMC data.
“Under no circumstances was ADA a security,” said Cardano developer IOG on June 9. IOD added that the SEC’s claims were riddled with inaccuracies. ADA exchanged hands for $0.27, up over 4% over a 24-hour period, TradingView data showed.
SOL, ADA, and MATIC are three tokens in a basket of cryptos classified as securities by the U.S. SEC in lawsuits against Binance and Coinbase. Aside from the price dip that followed the news of the suits and delisting on Robinhood, it’s yet unclear the ramifications of the SEC’s claims that certain cryptocurrencies are securities and must be registered with the commission.
Source: Read Full Article