SEC is Backtracking on Securities Claims Against Solana, Other Altcoins in Binance Case
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SEC wants to revise its Binance lawsuit. Solana, Cardano, and Polygon are among those affected. SEC could have several reasons to do this. The U.S. Securities and Exchange Commission (SEC) currently wields the most power over crypto assets. Notably, the agency often uses legal action to enforce its view, as recently seen in a lawsuit against Binance. Specifically, the lawsuit implicated ten crypto assets, including Solana, Cardano, and others, as unregistered securities, which could set a damaging legal precedent for the altcoins. Most recently, legal considerations have prompted the SEC to reassess this definition. The agency asked the court
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