Together with Cardano, Polygon and Solana reject the allegations of the Sec

Together with Cardano, Polygon and Solana reject the allegations of the Sec
The Securities and Exchange Commission claimed that some of the greatest old coins, such as Ada, Matic and Sol, were not registered securities.
Most assets lost in value shortly after the allegations became known. Now, however, the organizations between the blockchains and the tokens have published official explanations to refute the claims of the SEC.
polygon answers
MATIC was traded at $ 0.9 last week, just a few days before the SEC was against Binance and Coinbase and claimed in the lawsuits that the asset was an unregistered security. Initially, together with the rest of the market, Matic fell to $ 0.8. However, the situation worsened on Friday, when the course crashed by almost 40 % to a multi-month low of $ 0.5.
In the middle of the harmful drop in prices, Polygon Labs decided to answer Allegations. The organization said that the polygon blockchain was "developed outside the United States, was used outside the United States and has concentrated on the global community that supports the network".
"Matetic was a necessary part of the polygon technology from the first day and ensured that the network was safe-and it has remained to this day. Since we concentrate on network security, we made sure that Matatic was accessible to a broad group of people, but only with measures that never targeted the USA at any time." - is the statement.
Solana also disagrees
The performance of Sol was quite similar from Matic, since it was supposedly also a non -registered security. Last Sunday the course was $ 22, fell to just under $ 20 during the week and then fell by more than 30 %on Friday and Saturday.
The Solana Foundation, like the team behind Cardano, also rejected the SEC claims. The explanation states that the SF is looking forward to working with global regulatory authorities in order to create clear legal framework conditions, but "do not agree with the characterization of SOL as security".
The Solana Foundation does not agree with the classification of Sol as security. We welcome the continued commitment of political decision -makers as constructive partners in regulation in order to create legal clarity in these questions for the thousands of entrepreneurs in the USA
- Solana Foundation (@Solanafndn) 10. June 2023
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