The SEC has amended its lawsuit against Binance, Binance.US, and Changpeng Zhao, removing Solana (SOL) from the list of securities. This update was filed on July 30, 2024, in the U.S. District Court for the District of Columbia.
The SEC’s decision to amend the complaint comes after the court’s previous ruling that Binance Coin (BNB) is not a security. The court also issued a minute order on July 9, determining that secondary sales of Binance USD (BUSD) are not securities.
These rulings have influenced the SEC’s latest move, which removes Solana, Cardano (ADA), and Polygon (MATIC) from the list of crypto assets deemed securities in this case.
The SEC has informed the defendants that it does not require a court ruling to prove the allegations concerning these tokens at this time. This decision provides some relief to the crypto community, particularly for those involved with Solana and other affected assets.
Both parties involved in the case have agreed on a schedule for submitting and reviewing the motion to amend and related pleadings. Deadlines for these submissions are set to occur within the next 30 days.
This development reflects ongoing adjustments in the regulatory landscape for cryptocurrencies and highlights the evolving nature of legal definitions in the crypto space.
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