Based

Solana

Change

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
A change in the legal environment for a number of significant cryptocurrencies, including Solana, could result from the SEC's <a href="https://velodata.app/news/430" rel="noopener noreferrer nofollow">announcement</a> that it will revise its complaint against <a href="https://u.today/456-million-xrp-withdrawal-stuns-largest-crypto-exchange-binance" rel="noopener noreferrer nofollow">Binance</a>.
The action taken by the SEC indicates a change in how they will demonstrate that some tokens — which were formerly classified as Third Party Crypto Asset Securities — are in fact securities.&nbsp;
The SEC has made a significant change by notifying the court and <a href="https://u.today/456-million-xrp-withdrawal-stuns-largest-crypto-exchange-binance" rel="noopener noreferrer nofollow">Binance</a> that it intends to request permission to modify its complaint. This amendment modifies the terms of the Third Party Crypto Asset Securities, which include tokens such as Solana.&nbsp; <img alt="SOLUSDT" data-entity-type="file" data-entity-uuid="624b224e-2d18-4bbb-9f33-c5828a26d593" src="https://u.today/sites/default/files/inline-images/image_1047.png"><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow">SOL/USDT Chart by TradingView</a>
By taking this action, the SEC hopes to modify its approach and possibly avoid the need for the court to make a decision on the veracity of the claims made about these tokens at this particular time. There has been disagreement over <a href="https://u.today/solana-on-verge-of-200-ethereum-smashes-resistance-xrp-set-for-1-breakout" rel="noopener noreferrer nofollow">SOL's</a> classification as a security, but the SEC's decision to possibly cancel its allegations may offer the token some short-term respite.
Given that Solana's price has been quite volatile, the SEC's decision might greatly affect it. <a href="https://u.today/solanas-meme-coin-pandiana-exceeds-400-sol-in-presale" rel="noopener noreferrer nofollow">Solana</a> has successfully broken through multiple local resistance levels and is currently trading at about $181. Based on its current price action, Solana appears to be well-positioned for additional growth, potentially reaching $200.&nbsp;
A strong breakout could be disrupted by a comparatively low trading volume. The outlook for Solana and other cryptocurrencies has been gradually improving, with investors feeling cautiously optimistic about potential price increases. Nonetheless, the regulatory environment and the SEC's actions continue to be extremely important in determining the direction of the market.&nbsp;

Solana (SOL) Not Security: SEC Has Major Change of Heart

U_Today

Muita 30. heinäk. 2024 julkaistuja artikkeleja

Yona Network Integrates with Babylon Chain to Bridge Bitcoin and Solana

Is Bitcoin Still the Most Commonly Exploited Cryptocurrency by Criminals?

Russia to Start Cross-Border Crypto Payments by End of 2024

Bitcoin’s Fall Hits Meme Coins

Cardano Inching Closer to Chang Hard Fork as ADA Price Plunges

ETH ETF Bulls Power the Market! 4 Cryptos To Buy Amid Interest Rate Cuts

Join our free newsletter for daily crypto updates!