#US SEC & Binance Lawsuit
No Longer Consider Solana As Security
The U.S. Securities and Exchange Commission (SEC) lawsuit against Binance, Binance.US and co-founder Changpeng Zhao, the SEC has decided to amend its complaint regarding third-party crypto asset securities.
The joint status response filed in the US District Court for the District of Columbia on July 30, both the SEC informed the defendants that it wants to amend its complaint, including concerning the third-party crypto asset securities, as filed earlier in opposition to the defendants’ motion to dismiss.
The SEC asserts there is no need for the court to issue a ruling to prove the allegations on those tokens at this time. The move comes after the court’s order that BNB is not a security and minute order on July 9. The BUSD secondary sales are not securities.
Furthermore, the parties met and conferred and have agreed to a proposed schedule for briefing on a motion to amend and related pleadings. The deadlines for motion to amend and related pleadings are within 30 days.
This provided partial relief for crypto assets including Solana (SOL), Cardano (ADA), and Polygon (MATIC) that were mentioned in the SEC complaint
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