Polygon Labs has responded to the SEC’s claims that MATIC is a security.
The company argued that efforts to make MATIC widely available were not aimed at the United States. Polygon Labs states that it is deployed outside of the US and is focused on a global community that supports the network.
Comments on MATIC from Polygon Labs
Polygon Labs emphasizes that MATIC is a part of Polygon technology and that the network is secure and will remain secure in the future as it has been up to now. Also, Polygon Blockchain’s development and growth team states that MATIC is made available to a wide range of users and their actions are not aimed at the United States.
These comments follow the decision by fintech trading app Robinhood, which has also pulled support for Solana’s SOL and Cardano’s ADA as a result of the SEC’s designation of certain cryptocurrencies and tokens as securities. The SEC has openly named MATIC and 11 other tokens as securities in its lawsuit against the world’s largest crypto exchange Binance.
However, Binance USD, BNB, Solana’s SOL, Cardano’s ADA, Filecoin’s FIL, Cosmos Hub’s ATOM, The Sandbox’s SAND, Decentraland’s MANA’ Other cryptocurrencies, such as Algorand’s ALGO, Axie Infinity’s AXS, and Coti’s COTI, have also been designated as securities by the regulator.
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