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Axie Infinity

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<ul>
 <li>SEC retracts request to classify Solana, Cardano, and Polygon as securities in Binance lawsuit, focusing on other legal aspects.</li>
 <li>Political pressure and election promises, like Trump’s pro-crypto stance, may have influenced the SEC’s decision to amend its complaint.</li>
 <li>SEC’s withdrawal impacts over $100 billion in cryptocurrencies, signaling a possible regulatory shift in the crypto market.</li>
</ul>
<p>The U.S. Securities and Exchange Commission (SEC) has decided not to pursue its request for the court to classify certain <a href="https://cryptonewsland.com/binance-secures-partial-victory-in-sec-lawsuit-discovery-phase-ends/" rel="noopener noreferrer nofollow">tokens as securities</a> in its lawsuit against crypto exchange Binance.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4a5.png" alt="💥" class="wp-smiley" style="height: 1em; max-height: 1em;">JUST IN: The US <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/SEC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SEC</a> has retracted its request for the court to classify tokens like: <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Solana</a>, <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Cardano</a> &amp; <a href="https://twitter.com/hashtag/Polygon?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Polygon</a> as securities in its lawsuit against <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f632.png" alt="😲" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>It has not been a good few days for the <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f921.png" alt="🤡" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/GaryGensler?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#GaryGensler</a> <a href="https://t.co/WMWl9ULa9y" rel="noopener noreferrer nofollow">pic.twitter.com/WMWl9ULa9y</a></p>— Crypto Rand (@crypto_rand) <a href="https://twitter.com/crypto_rand/status/1818232553687417248?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 30, 2024</a>
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<p><strong>SEC Amends Complaint</strong></p>
<p>On July 30, 2024, the SEC <a href="https://www.courtlistener.com/docket/67474542/253/securities-and-exchange-commission-v-binance-holdings-limited/" rel="noopener noreferrer nofollow">filed</a> a response to the court’s July 9 minute order. The SEC informed the court of its plan to amend its complaint concerning the “Third Party Crypto Asset Securities.” This action aims to avoid the need for the court to rule on whether these tokens are securities. By amending its complaint, the SEC seeks to streamline the legal process and focus on other aspects of the case.</p>
<h4 class="wp-block-heading" id="h-tokens-in-question"><strong>Tokens in Question</strong></h4>
<p>In its original lawsuit against Binance, the SEC <a href="https://cryptonewsland.com/us-district-court-dismisses-key-sec-claims-against-binance-in-regulatory-case/" rel="noopener noreferrer nofollow">claimed that several tokens</a>, including Binance Coin (BNB), Binance USD (BUSD), Solana (SOL), Cardano (ADA), and Polygon (MATIC), were securities.&nbsp;</p>
<p>The list also included tokens like Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Axie Infinity (AXS), and Coti (COTI). These tokens were part of a larger group that the SEC had previously identified as securities, affecting over $100 billion worth of cryptocurrencies.</p>
<h4 class="wp-block-heading" id="h-implications-for-the-crypto-market"><strong>Implications for the Crypto Market</strong></h4>
<p>The SEC’s decision to amend its complaint may have significant implications for the crypto market. It signals a potential shift in the regulatory approach towards cryptocurrencies. This move comes amid increasing eff...</p>
<p>The post <a href="https://cryptonewsland.com/sec-withdraws-request-to-classify-ada/" rel="noopener noreferrer nofollow">SEC Withdraws Request to Classify ADA, SOL, and, MATIC as Securities in Binance Lawsuit</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

SEC Withdraws Request to Classify ADA, SOL, and, MATIC as Securities in Binance Lawsuit

Crypto News Land

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