The SEC Temporarily Suspends Its Allegations That SOL, ADA, and MATIC Are Unregistered Securities

This decision comes amid the ongoing legal proceedings against Binance, one of the world's leading cryptocurrency exchanges.

The U.S. Securities and Exchange Commission (SEC) has announced a temporary suspension of its allegations that the native crypto assets of Solana, Cardano, and Polygon are unregistered securities. This decision comes amid the ongoing legal proceedings against Binance, one of the world’s leading cryptocurrency exchanges.

In a joint status report submitted to the U.S. District Court for the District of Columbia on July 29, the SEC indicated plans to amend its complaint against Binance. The amendment includes potential changes regarding “third party crypto asset securities,” which could offer temporary relief to these assets. This pause is significant as the named tokens have faced intense scrutiny and subsequent delistings from trading platforms, stemming from the ongoing case and associated regulatory concerns.

The joint response details an agreed-upon schedule between the SEC and Binance for briefing the motion to amend and related pleadings. The SEC is expected to file its motion to amend within 30 days following the court’s scheduling order.

While this development provides a temporary respite for investors in Solana (SOL), Cardano (ADA), and Polygon (MATIC), it remains uncertain whether these tokens will ultimately be classified as securities under U.S. law.

According to market data from crypto.news, Solana (SOL) has dropped over 5% in the last 24 hours, while Cardano (ADA) and Polygon (MATIC) have both seen a slight decrease of around 1%.

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