SEC is coming after SOL, ADA, MATIC now
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It looks like the SEC is up to their old tricks again, doing what they do best which is omnibus a bunch of securities infractions into a legal complaint and try to use that as precedent for regulation.
In the lawsuit they claim that all of these tokens are securities:
-Solana
-Polygon
-Cardano
-Filecoin
-Cosmos
-Decentraland
-Algorand
-Sandbox
-COTI
-AXIS
Looks like theyre really committed to the rapid fire approach. This shouldnt hold up because they would actually have to argue individually that each project is a security but it shows how little they care to do so. Feels like more of a warning shot saying “yeah we really dont like these ones”. Im sure theres more that they have this opinion on but “Schroedinger’s securities” i guess we will have to wait and see
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