Decentraland

Solana

The Sandbox

Axie Infinity

<a href="https://bitcoinworld.co.in/sec-redefines-solana-and-other-crypto-asset-securities-in-amended-complaint-against-binance/" title="SEC Redefines Solana And Other Crypto Asset Securities In Amended Complaint Against Binance" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400"><a href="https://bitcoinworld.co.in/sec-approved-grayscale-bitcoin-mini-trust-for-trading-on-nyse-arca/" rel="noopener noreferrer nofollow">SEC</a> redefines Solana and crypto securities in Binance lawsuit.</li>
 <li style="font-weight: 400">Due to the impending amendment, the court will postpone its decision on the sufficiency of the original allegations regarding these securities.</li>
</ul>
The US Securities and Exchange Commission (SEC) is seeking to amend its complaint against Binance Holdings, Binance.US, and Binance’s former CEO Changpeng Zhao, according to a <a href="https://storage.courtlistener.com/recap/gov.uscourts.dcd.256060/gov.uscourts.dcd.256060.253.0.pdf" rel="noopener noreferrer nofollow">filing</a> dated July 30. The specific changes will involve redefining “third party crypto asset securities,” potentially including Solana (SOL).
Both parties have agreed on a timeline for the amended complaint and subsequent legal responses, although they remain at odds over initiating discovery on previously survived claims pending the amendment’s resolution.
The SEC previously identified 10 coins as securities in its lawsuit against Binance, including Filecoin (FIL), Algorand (ALGO), Solana (SOL), Cardano (ADA), Polygon (MATIC), Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Axie Infinity (AXS) and COTI (COTI).
Getting rid of the need to prove Solana and similar tokens are securities could ease regulatory pressure on these coins.
The move could be a positive catalyst for spot Solana exchange-traded funds (ETFs). Recently, VanEck and 21Shares filed for ETF tied to Solana.
Many experts, however, believe there is a very low chance the SEC will accept these applications.
BlackRock’s Head of Digital Assets, Robert Mitchnick, said although spot Ethereum Spot ETFs were launched last week, they are unlikely to pave the way for other crypto ETFs.
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

SEC Redefines Solana And Other Crypto Asset Securities In Amended Complaint Against Binance

ItsBitcoinWorld

Other articles published on Jul 30, 2024

BlackRock Sees Low Demand for Other Cryptos Other Than Bitcoin and Ethereum

WazirX Reports Breach to FIU, Reaches Out to 500+ Exchanges After $235M Hack

Polkadot Faces Drop in Activity

Weekly Article Recap: 7/22-7/26

Bitcoin Conference Speakers Bet on Crypto Future – Top 5 altcoins expected to go over $1000 by 2025

Ethereum Poised To Break $4,000 As Price Tests Crucial Levels; Analyst

Join our free newsletter for daily crypto updates!