US SEC Amends Binance Lawsuit: Solana, Cardano, and Polygon Not Considered Securities
– The US SEC has amended its complaint in the lawsuit against Binance, Binance.US, and co-founder Changpeng Zhao.
– The agency no longer requires the court to rule on whether third-party crypto assets like Solana (SOL), Cardano (ADA), and Polygon (MATIC) are securities.
– This decision follows a court order stating BNB is not a security and BUSD secondary sales do not classify as securities.
– Both parties have agreed on a schedule for briefing on a motion to amend and related pleadings within 30 days.
This amendment provides partial relief for several crypto assets initially mentioned in the SEC’s complaint, signaling a potential shift in the regulatory approach towards these digital currencies.
As the lawsuit progresses, the implications for the broader crypto market and future SEC regulations remain a significant point of interest.
