The Solana Foundation disagrees with the SEC’s assessment of Solana as a security.
The SEC has sparked the securities debate by filing lawsuits against Coinbase and Binance in recent weeks. However, crypto projects that made a statement do not see cryptocurrencies as securities.
The Solana Foundation Does Not Consider Solana a Security
The Solana Foundation tweeted its disagreement with the SEC framing SOL as a security. The regulator named Solana’s native cryptocurrency a security in its lawsuit against Binance.
The Solana Foundation openly disagrees with the US Securities and Exchange Commission’s designation of Solana’s native cryptocurrency, SOL, as a security.
The U.S. securities regulator has put SOL and 11 other cryptocurrency securities in litigation in its high-profile lawsuit against the world’s largest crypto exchange Binance on June 5.
While the Solana Foundation categorically disagrees with SOL’s designation as a security, the organization claims it “welcomes the continued involvement of policymakers as constructive partners in regulation to gain legal clarity on these issues for thousands of entrepreneurs.”
The stance taken by the SEC in these cases is still being discussed in the market.
58139
