Many crypto observers may be “overreading” the security regulator’s latest filing for its Binance lawsuit, meaning Solana and other tokens may not be off the hook yet.
The United States securities regulator hasn’t necessarily let Solana off the hook as a security despite retracting its request for a court to decide on the matter as part of its Binance lawsuit on July 30.
“There is no reason to think SEC has decided SOL is a non-security,” said Jake Chervinsky, chief legal officer at crypto-focused venture capital firm Variant Fund in a July 30 X post.
Chervinsky’s post refers to the latest response from the Securities and Exchange Commission, seeking to amend its complaint regarding the “Third Party Crypto Asset Securities.” Essentially telling the court it is no longer asking to determine whether the tokens listed in the lawsuit are securities or not.
