The Switzerland-based Solana (SOL) developer is objecting to the U.S. Securities and Trade Fee’s (SEC) allegation that the Eleventh-largest crypto asset by market cap is a safety.
The Solana Basis says that it disputes the claims made by the SEC in a lawsuit filed in opposition to crypto alternate Binance final week.
“The Solana Basis disagrees with the characterization of SOL as a safety. We welcome the continued engagement of policymakers as constructive companions on regulation to realize authorized readability on these points for the 1000’s of entrepreneurs throughout the US constructing within the digital property area.”
The Solana Basis is just not the one developer reacting to the SEC’s newest offensive on the crypto area.
Polygon Labs, the developer of the blockchain-scaling resolution Polygon (MATIC), seems to be distancing itself from the US market after the SEC included the altcoin in its listing of crypto asset securities.
“We’re happy with the historical past of the Polygon community – developed exterior the US, deployed exterior the US, and centered to today on the worldwide group that helps the community. MATIC was a mandatory a part of the Polygon expertise from day one, making certain that the community can be safe – and stays so to today. Given our concentrate on community safety, we made positive MATIC was obtainable to a large group of individuals, however solely with actions that didn’t goal the US at any time.
The non-US market is the most important on the earth, and we’re grateful for all of the considerate work being executed on all facets of this expertise across the globe, together with by regulators and policymakers.
We’re assured within the actions we took previously, and the way centered we’re on constructing sooner or later.”
In addition to Solana and Polygon, the SEC additionally listed ten different crypto property that it views as securities.
“Because the Binance Platforms launched, Defendants have made obtainable for buying and selling on them crypto property which can be supplied and offered as funding contracts, and thus as securities.
This contains, however is just not restricted to, [Binance Coin] BNB, BUSD, and the items of every of the crypto asset securities additional described under – with buying and selling symbols [Solana] SOL, [Cardano] ADA, [Polygon] MATIC, [Filecoin] FIL, [Cosmos] ATOM, [The Sandbox] SAND, [Decentraland] MANA, [Algorand] ALGO, [Axie Infinity] AXS, and [COTI] COTI (collectively, the ‘Crypto Asset Securities’).”
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