SEC experts promised not to prosecute Solana cryptocurrency

The U.S. Securities and Exchange Commission (SEC) has decided to change its wording regarding a number of digital assets in the case against Binance. The SEC refused to define these tokens as securities.

The list of 11 crypto assets that will not be classified as securities includes: Solana (SOL), XRP, Cardano (ADA), Binance Coin (BNB), TRON (TRX ), and Polygon (MATIC). The agency filed a motion with the court to amend its previously filed opposition to the defendants' motion to dismiss.

The SEC’s decision removes the need for the court to rule on the status of these tokens at this time. However, the final decision on the wording has not yet been made, and Binance representatives noted that they have not yet received the final version of the objection from the SEC.

In June 2023, the SEC filed a lawsuit against Binance and Чанпен Чжао" href="https://noworries.news/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao, accusing them of violating federal securities laws, operating without a license, and fraudulently handling customer funds. As part of this case, the agency previously classified 11 digital assets as securities.

Bloomberg Intelligence analyst James Seyffarth noted that the SEC’s position on Solana is an obstacle to the possible launch of a spot ETF based on this asset. In other cases against Kraken and Coinbase, the SEC did not submit updated documents on the definition of crypto assets.