Crypto executives believe the SEC still considers Solana （SOL） a security despite retracting its request for a court decision in the Binance lawsuit.
Points
- The SEC may still consider Solana a security.
- The court decision request was retracted in the Binance lawsuit.
- Judge Katherine Polk Failla shows inclination toward the SEC’s position.
The United States Securities and Exchange Commission （SEC） hasn’t necessarily let Solana off the hook as a security, despite retracting its request for a court to decide on the matter in the Binance lawsuit on July 30. According to crypto executives, this indicates that the SEC may still believe Solana （SOL） is a security.
In the Coinbase lawsuit, Judge Katherine Polk Failla appears more inclined to agree with the SEC’s position. This inclination suggests that making a similar request as in the Binance lawsuit may not be worthwhile.
One crypto executive, speculating on the SEC’s political motives, believes that the agency’s behavior behind closed doors informs this stance.
Which Tokens Are Affected?
The ambiguity surrounding Solana’s status as a security has implications for other tokens in the market. Investors and developers need to stay informed about regulatory changes to navigate the evolving legal landscape effectively.