TL;DR
The SEC needs to amend sure elements of its case in opposition to Binance, particularly, the elements that allege a variety of “third get together crypto belongings” (inc. Solana, Polygon and Cardano) are literally unregistered securities.
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Solana holders, rejoice!
The SEC could be about to drop its allegations that SOL is an unregistered safety (alongside different cryptocurrencies like Polygon and Cardano).
The SEC needs to amend sure elements of its case in opposition to Binance, particularly, the elements that allege a variety of “third get together crypto belongings” are literally unregistered securities.
Now, this doesn’t imply they’re dropping the allegations as a complete — simply on this particular case.
Mainly, they’re saying “we’re not going to struggle this level right here and now.”
Which might imply many issues, the shortlist of which appear to be this:
The SEC doesn’t really feel like it may be confirmed in court docket at the moment
The SEC is frightened {that a} choose will rule in opposition to them and set a authorized priority that claims ‘these tokens should not securities’
The SEC is quietly strolling again its assault on crypto because of rising political stress
Both approach, its a brief time period win for crypto holders!
Let’s hope it interprets right into a definitive long run win a while quickly 🤞
