$XRP $ADA #MATIC✅ The US Securities and Exchange Commission (SEC) has withdrawn its court request to classify tokens such as Solana, Cardano, Polygon and others as securities.
The U.S. Securities and Exchange Commission (SEC) is no longer asking the court to decide and treat the tokens named in its lawsuit against cryptocurrency exchange Binance as securities.
On July 30, the SEC filed a response to the court's minute order dated July 9, 2024. In the filing, the SEC wrote that it seeks to amend its complaint relating to “Asset Securities “Third Party Cryptocurrencies” as defined in their objection to Binance's motion to dismiss.
According to the SEC, this eliminates the need to “issue a ruling on the sufficiency of the allegations with respect to those tokens at this time.” This means the government agency is no longer asking a court to decide whether the affected tokens are securities. Which tokens are affected?
In the lawsuit against Binance, the SEC claimed that some tokens were securities. The list includes BNB ($BNB :574),Cardano ($ADA :0.40), Polygon ($MATIC :0.5183), The Sandbox ($SAND :0.34), Decentraland ($MANA :0.34), Axie Infinity ($AXS : 5.99) and Coti (COTI).
These tokens are just part of a larger list of tokens that the SEC believes are securities. In June 2023, the SEC declared at least 68 tokens to be securities, affecting more than $100 billion in cryptocurrency market value.#XRPUSDT🚨 #ada
