TL;DR
The SEC desires to amend sure elements of its case in opposition to Binance, particularly, the elements that allege a spread of “third social gathering crypto property” (inc. Solana, Polygon and Cardano) are literally unregistered securities.
Full Story
Solana holders, rejoice!
The SEC is likely to be about to drop its allegations that SOL is an unregistered safety (alongside different cryptocurrencies like Polygon and Cardano).
The SEC desires to amend sure elements of its case in opposition to Binance, particularly, the elements that allege a spread of “third social gathering crypto property” are literally unregistered securities.
Now, this doesn’t imply they’re dropping the allegations as an entire — simply on this particular case.
Principally, they’re saying “we’re not going to battle this level right here and now.”
Which might imply many issues, the shortlist of which seem like this:
The SEC doesn’t really feel like it may be confirmed in courtroom right now
The SEC is anxious {that a} choose will rule in opposition to them and set a authorized priority that claims ‘these tokens usually are not securities’
The SEC is quietly strolling again its assault on crypto because of rising political strain
Both manner, its a brief time period win for crypto holders!
Let’s hope it interprets right into a definitive long run win a while quickly 🤞
