The organizations behind several popular cryptocurrencies have spoken out against recent claims made by the Securities and Exchange Commission (SEC)—which argued that Solana (SOL), Polygon (MATIC), and Cardano (ADA) are securities.

The SEC named the three among a slew of other tokens as examples of securities being offered and traded on allegedly non-compliant crypto exchanges as part of its lawsuits against Binance and Coinbase last week.

Solana, Polygon, and Cardano are among the lawsuits’ most recognizable tokens, placing within the industry’s top 20 by market capitalization, according to CoinGecko. Combined, the three tokens have a market capitalization of over $21 billion—equal to around one-tenth of Ethereum’s total value.

Over the past seven days, the trio of tokens have tumbled around 30% each, according to CoinGecko. Yet, as of this writing, they staged a partial comeback on Sunday—paring back a small portion of losses.

Among the big three altcoins, Cardano was the first to have its regulatory status defended by a founding organization. On June 6, the blockchain research and engineering firm that created Cardano, Input Output Global (IOG), said ADA has never been a security under U.S. securities law.

The SEC’s latest lawsuits will not impact the company’s operations “in any way,” IOG said, adding that the firm welcomes a collaborative approach with regulators that would preserve the possibility of innovation while protecting

Go to Source to See Full Article
Author: André Beganski

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details