TL;DR
The SEC needs to amend sure components of its case in opposition to Binance, particularly, the components that allege a variety of “third get together crypto belongings” (inc. Solana, Polygon and Cardano) are literally unregistered securities.
Full Story
Solana holders, rejoice!
The SEC is likely to 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 components of its case in opposition to Binance, particularly, the components 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 battle this level right here and now.”
Which might imply many issues, the shortlist of which appear like this:
The SEC doesn’t really feel like it may be confirmed in court docket presently
The SEC is anxious {that a} decide will rule in opposition to them and set a authorized priority that claims ‘these tokens will not be securities’
The SEC is quietly strolling again its assault on crypto because of rising political stress
Both manner, its a brief time period win for crypto holders!
Let’s hope it interprets right into a definitive long run win a while quickly 🤞
