TL;DR
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The SEC desires to amend sure elements of its case in opposition to Binance, particularly, the elements that allege a variety of “third occasion crypto property” (inc. Solana, Polygon and Cardano) are literally unregistered securities.
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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 variety of “third occasion crypto property” are literally unregistered securities.
Now, this doesn’t imply they’re dropping the allegations as a complete — simply on this particular case.
Mainly, they’re saying “we’re not going to combat this level right here and now.”
Which may imply many issues, the shortlist of which seem like this:
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The SEC doesn’t really feel like it may be confirmed in court docket at the moment
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The SEC is frightened {that a} choose will rule in opposition to them and set a authorized priority that claims ‘these tokens are not securities’
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The SEC is quietly strolling again its assault on crypto because of rising political strain
Both method, its a brief time period win for crypto holders!
Let’s hope it interprets right into a definitive long run win a while quickly 🤞
