{"id":15667,"date":"2024-07-30T12:39:14","date_gmt":"2024-07-30T09:39:14","guid":{"rendered":"https:\/\/forklog.com\/en\/sec-to-withdraw-demand-for-solana-and-other-assets-to-be-recognized-as-securities\/"},"modified":"2024-07-30T12:39:14","modified_gmt":"2024-07-30T09:39:14","slug":"sec-to-withdraw-demand-for-solana-and-other-assets-to-be-recognized-as-securities","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/sec-to-withdraw-demand-for-solana-and-other-assets-to-be-recognized-as-securities\/","title":{"rendered":"SEC to Withdraw Demand for Solana and Other Assets to Be Recognized as Securities"},"content":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) intends to <a href=\"https:\/\/www.courtlistener.com\/docket\/67474542\/253\/securities-and-exchange-commission-v-binance-holdings-limited\/\">seek amendments<\/a> to its initial lawsuit against Binance. The proposal could potentially affect the need for a court decision on whether assets like Solana are considered securities.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThe amendments will eliminate the need to render a verdict on the sufficiency of the allegations regarding these tokens at this time,\u201d<\/em> the motion states.<\/p>\n<\/blockquote>\n<p>The SEC filed the statement on July 29 in response to a court order from July 9, which required representatives of the agency and the company to agree on a proposed schedule for further proceedings. This document must specify the deadlines for filing a motion to amend the complaint, the order states.<\/p>\n<p>In June 2023, the regulator <a href=\"https:\/\/www.docdroid.net\/I02zzqT\/sec-v-binance-4-pdf\">filed<\/a> a lawsuit against the bitcoin exchange and its CEO Changpeng Zhao.<\/p>\n<p>In addition to SOL, the Commission also classified the following assets as securities: BNB, BUSD, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, and AXS.<\/p>\n<p>Earlier, Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia partially dismissed the SEC&#8217;s lawsuit against Binance, but most of the allegations will be considered.<\/p>\n<p>She granted the exchange&#8217;s motion to dismiss the agency&#8217;s claims regarding secondary sales of the BNB token, the offering of the BUSD stablecoin, and the Simple Earn product.<\/p>\n<p>The consideration of the SEC&#8217;s allegations concerning the ICO and subsequent sales of BNB by the platform, the BNB Vault program, failure to register, and non-compliance with anti-fraud rules will continue. The same applies to the staking service on Binance.US.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission (SEC) intends to seek amendments to its initial lawsuit against Binance. The proposal could potentially affect the need for a court decision on whether assets like Solana are considered securities. \u201cThe amendments will eliminate the need to render a verdict on the sufficiency of the allegations regarding these tokens [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15666,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1413,1264,36,128,1159],"class_list":["post-15667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-avalanche-avax","tag-polygon-matic","tag-regulation","tag-sec","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/15667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=15667"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/15667\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/15666"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=15667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=15667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=15667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}