{"id":35133,"date":"2024-07-30T17:28:55","date_gmt":"2024-07-30T17:28:55","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sec-withdraws-claims-that-ada-matic-and-sol-are-securities-in-its-binance-lawsuit\/"},"modified":"2024-07-30T17:28:55","modified_gmt":"2024-07-30T17:28:55","slug":"sec-withdraws-claims-that-ada-matic-and-sol-are-securities-in-its-binance-lawsuit","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sec-withdraws-claims-that-ada-matic-and-sol-are-securities-in-its-binance-lawsuit\/","title":{"rendered":"SEC withdraws claims that ADA, MATIC, and SOL are securities in its Binance lawsuit"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/sec-logo-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/sec-logo-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/sec-logo-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/sec-logo-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>SEC retracts request to classify ADA, MATIC, and SOL as securities in Binance suit.<\/li>\n<li>Affected tokens include ADA, MATIC, SOL, BNB, BUSD, and others.<\/li>\n<li>The shift in SEC\u2019s stance follows increased pro-crypto political support in the US.<\/li>\n<\/ul>\n<p>In a notable shift in regulatory stance, the US Securities and Exchange Commission (SEC) has withdrawn its request for a court ruling to classify certain cryptocurrencies, including Cardano\u2019s ADA, Polygon\u2019s MATIC, and Solana\u2019s SOL, as securities in its ongoing lawsuit against the cryptocurrency exchange <a href=\"https:\/\/coinjournal.net\/exchanges\/binance\/\">Binance<\/a>.<\/p>\n<p>This development marks a significant change in the SEC\u2019s approach to the classification of these digital assets.<\/p>\n<h2>SEC no longer views ADA, SOL and MATIC as securities<\/h2>\n<p>On July 30, 2024, the SEC filed a <a href=\"https:\/\/www.courtlistener.com\/docket\/67474542\/253\/securities-and-exchange-commission-v-binance-holdings-limited\/\">response<\/a> to the court\u2019s minute order issued on July 9, 2024. In the filing, the SEC indicated its intention to amend its complaint concerning what it previously referred to as \u201cThird Party Crypto Asset Securities\u201d in its opposition to Binance\u2019s motion to dismiss.<\/p>\n<p>By retracting this request, the SEC has effectively removed the need for a judicial ruling on whether these tokens should be classified as securities at this time.<\/p>\n<p>While the immediate tokens affected by this retraction are ADA, MATIC, and SOL, other prominent cryptocurrencies such as Binance Coin (BNB), Binance USD (BUSD), Cosmos(ATOM), The Sandbox(SAND), Decentraland (MANA), Axie Infinity (AXS), and COTI.<\/p>\n<p>SEC\u2019s retraction follows the SEC\u2019s earlier stance, which had identified at least 68 tokens as securities, impacting a significant portion of the cryptocurrency market valued at over $100 billion.<\/p>\n<h2>SEC\u2019s move coincides with increased pro-crypto political support in the US<\/h2>\n<p>The SEC\u2019s change of stance appears to be influenced by recent political developments as the US Presidential candidates increasingly voice pro-crypto sentiments, impacting regulatory attitudes.<\/p>\n<p>Former President Donald Trump, in his election campaign, has pledged to end the so-called \u201cwar on crypto\u201d and expressed intentions to replace SEC Chair Gary Gensler with a more crypto-friendly figure.<\/p>\n<p>Concurrently, members of the Democratic Party have advocated for a more progressive approach to digital assets.<\/p>\n<p>This adjustment by the SEC underscores a broader, evolving narrative in US regulatory attitudes towards cryptocurrencies, reflecting a growing recognition of the sector\u2019s significance and potential.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/sec-withdraws-claims-that-ada-matic-and-sol-are-securities-in-its-binance-lawsuit\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) SEC retracts request to classify ADA, MATIC, and SOL as securities in Binance suit. Affected tokens include ADA, MATIC, SOL, BNB, BUSD, and others. The shift in SEC\u2019s stance follows increased pro-crypto political support in the US. In a notable shift [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":35134,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35133"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=35133"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35133\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/35134"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=35133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=35133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=35133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}