The Solana Foundation disputes the US Securities and Exchange Commission’s (SEC) classification of the cryptocurrency Solana (SOL) as an unregistered security.
This week, the SEC sued cryptocurrency exchanges Binance and Coinbase, accusing them of trading SOL and other “crypto asset securities.”
“The Solana Foundation strongly believes that SOL is not a security,” the foundation told CoinDesk in a statement.
“SOL is the native token of the Solana blockchain, a robust, open-source, community-based software project that grows and evolves with decentralized user and developer engagement.”
At Solana’s Hacker House event in New York City on June 8, the community didn’t seem too concerned about regulatory hassles.
“I don’t think any of the developers care,” said one developer.
“SOL being security doesn’t affect anyone developing on Solana.”
In suing Binance and Coinbase, the SEC, in addition to SOL, has also filed Cardano (ADA), Polygon (MATIC), Sandbox (SAND), Filecoin (FIL), Axy Infinity (AXS) and Chillies (CHZ). , FLOW, Internet Computer (ICP), NEAR, Voyager (VGX), DASH and NEXO have also been recognized as securities.
｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: Party in Lisbon (CoinDesk)
｜Original: Solana Foundation: SOL is ‘Not a Security’
