Solana

BUSD

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ZOOMER

<p>The post <a href="https://coinpedia.org/news/sec-revises-complaint-against-binance-solana-no-longer-classified-as-security/" rel="noopener noreferrer nofollow">SEC Revises Complaint Against Binance: Solana No Longer Classified as Security</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>The U.S. Securities and Exchange Commission (SEC) has decided to revise its complaint in the lawsuit against Binance, removing<a href="https://coinpedia.org/price-analysis/solana-price-analysis-heres-what-may-happen-if-the-sol-price-hits-200-this-week/" rel="noopener noreferrer nofollow"> Solana (SOL)</a> from its list of securities. This legal adjustment could signal a shift in the regulatory landscape for certain cryptocurrencies. The decision follows recent court rulings that have already impacted the classification of other crypto assets.</p>
<h2 class="wp-block-heading" id="h-sec-exclude-solana-from-security-statues">SEC Exclude Solana From Security Statues</h2>
<p>The SEC’s lawsuit against Binance, Binance.US, and co-founder Changpeng Zhao originally included several third-party crypto assets as securities. However, the SEC announced plans to modify its complaint in a joint status response filed in the U.S. District Court for the District of Columbia on July 30.&nbsp;</p>
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   <p lang="en" dir="ltr">[ ZOOMER ]<br>SEC MOVES TO AMEND COMPLAINT AGAINST BINANCE, SEEKS TO NO LONGER PROVE TOKENS SUCH AS SOLANA ARE SECURITIES: FILING</p>— zoomer (@zoomerfied) <a href="https://twitter.com/zoomerfied/status/1818149238334718175?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 30, 2024</a>
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<p>This change removes the classification of Solana as a security, aligning with the court’s earlier order stating that BNB and BUSD secondary sales are not securities.</p>
<p>The SEC noted that there is no immediate need for the court to rule on the security status of these crypto tokens, marking a shift in their legal strategy. This modification provides partial relief for assets such as Solana (SOL), Cardano (ADA), and Polygon (MATIC), which were initially included in the SEC’s complaint.</p>
<h2 class="wp-block-heading" id="h-change-in-regulatory-approach">Change In Regulatory Approach</h2>
<p>The SEC’s decision to remove Solana from its list of securities could signal a broader change in how cryptocurrencies are perceived and regulated in the U.S.&nbsp; This may provide clarity for Solana, which has long existed in a regulatory gray area. The change might also pave the way for new opportunities, such as a <a href="https://coinpedia.org/news/after-vaneck-21shares-now-cboe-global-filed-for-solana-etf-price-surge-by-6-6/" rel="noopener noreferrer nofollow">Solana exchange-traded fund (ETF)</a>.</p>
<p>The parties involved have agreed on a proposed schedule for briefing on the motion to amend and related pleadings, with deadlines set within 30 days.</p>
<h2 class="wp-block-heading" id="h-community-and-market-reactions">Community and Market Reactions</h2>
<p>The crypto community has largely welcomed the SEC’s amendments, with some members expressing optimism about Solana’s future. There are various price targets for Solana, with some speculating it could reach $1,000 soon.&nbsp;</p>
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   <p lang="en" dir="ltr">sol to $1k easily lol</p>— Yelo (@yelotree) <a href="https://twitter.com/yelotree/status/1818150304224772413?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 30, 2024</a>
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<p>However, the overall reaction in the cryptocurrency market has been muted, with Solana currently trading at <a href="https://markets.coinpedia.org/solana/" rel="noopener noreferrer nofollow">approximately $183</a>, reflecting a decline of 4.71% over the past 24 hours.</p>
<p>As the situation unfolds, the SEC’s revised stance may influence future regulatory approaches and market dynamics for Solana and other cryptocurrencies.</p>

SEC Revises Complaint Against Binance: Solana No Longer Classified as Security

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