Despite withdrawing its request for a court decision on whether Solana (SOL) is a security in the Binance lawsuit on July 30, the US Securities and Exchange Commission (SEC) It has not yet been clearly confirmed that Solana is classified as a security.

#JakeChervinsky , Variant Fund's Chief Legal Officer, noted on July 30 that the SEC's retraction does not imply a conclusion that Solana is not a security. The SEC's latest move involves amending the complaint regarding “Third Party Crypto Asset Securities,” essentially withdrawing the request for a court ruling on the security's status of tokens involved in the lawsuit.

Chervinsky pointed out that despite this retraction, the SEC continues to treat these tokens as securities in other cases, such as the ongoing lawsuit against Coinbase.

Miles Jennings, General Counsel at a16z Crypto, and Justin Slaughter, Policy Director at Paradigm, also weighed in.

Slaughter said the retraction may be overinterpreted and does not imply that Solana or other tokens are not securities. Jennings noted that Judge Amy Berman Jackson's high-profile opinion in the Binance case could make it difficult for the SEC to prove these tokens are securities, despite Judge Katherine Polk Failla's support for the position. SEC in the Coinbase case.

Jennings questions the SEC's ability to connect secondary market token sales to the regulatory efforts of token issuers, suggesting this may be a strategic decision rather than a reflection SEC's stance on the token.

Affected Tokens

In its lawsuit against Binance, the SEC identified several tokens as securities, including:

1. Solana (SOL) – $184

2. $BNB BNB) – $587

3. Cardano ($ADA ) – $0.40

4. Polygon (MATIC) – $0.515

5. The Sandbox (SAND) – $0.33

6. Decentraland (MANA) – $0.33

7. Axie Infinity (AXS) – $5.82

The SEC previously asserted that at least 68 tokens are securities, affecting #cryptocurrencies. worth more than 100 billion USD