In a lawsuit filed this week by the SEC against cryptocurrency exchanges Binance.US and Coinbase, the Solana token SOL was classified as an unregistered security, something the Solana Foundation disputes.
The Solana Foundation said in a statement: "SOL is the native token of the Solana blockchain. The Solana Foundation firmly believes that SOL is not a security. The Solana blockchain is a powerful, open source, community-based software project that relies on Decentralized user and developer participation to scale and grow." One developer said at Solana's Hacker House event in New York on Thursday: "I don't think any developer cares about Solana's regulatory issues, SOL as a This security doesn’t really impact anyone building on Solana.” (CoinDesk)