Cardano

Crypto lawyer Bill Morgan stated that the allegations leveled by the Securities and Exchange Commission (SEC) against Cardano’s ADA are made up of weak facts and arguments. The allegations were made as part of the SEC’s recent <a href="https://www.sec.gov/news/press-release/2023-101" rel="noopener noreferrer nofollow">lawsuit</a> against Binance, which named several cryptocurrencies, including ADA, as securities.Morgan took to Twitter earlier today to share a tweet from Cardano community member Chris O:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/22fc94ab52d743cc961f12a141e369d9.png" />After reading the lawsuit filed by the SEC against Binance, Chris O <a href="https://twitter.com/TheOCcryptobro/status/1665821007368830977" rel="noopener noreferrer nofollow">concluded</a> that the specific complaint that concerned Cardano’s native token ADA was “extremely weak”. According to the Cardano community member, the securities regulator completely disregarded the fact that ADA’s initial coin offering (ICO) took place in Japan.Since ADA’s ICO was done in Japan, the tokens were unavailable to United States-based crypto investors. Chris O also highlighted that the SEC had wrongfully claimed that Cardano’s three founding entities were a centralized oligarchy that owned the protocol. The SEC was referring to the Cardano Foundation, Input Output (IOHK), and EMURGO.Read full article at<a href="https://cryptotale.org/crypto-experts-claim-that-the-secs-argument-against-cardano-is-weak/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

Crypto Experts Claim That The SEC’s Argument Against Cardano Is Weak

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