- SEC classifies as securities 11 tokens with a total capitalization of $ 115 billion
- MATIC and SOL, among others
- Polygon and Solana disagreed with the decision
- But both organizations are not ready for tougher measures
The Securities and Exchange Commission (SEC) has classified several tokens as securities in its lawsuit against Binance. В их числе есть и MATIC $1 Polygon MATIC 4.14% Market cap $5.8b Vol. 24Н $316.8m Exchange partner
, а также SOL $15 Solana SOL -2.97% Market cap $6b Vol. 24Н $236.6m Exchange partner . These are the native tokens of Polygon and Solana ecosystems.
The two companies commented on the situation. Polygon Labs pointed out that MATIC is an integral part of the protocol, is not designed for profit and has never been promoted in the U.S. market.
The company has spoken out strongly against such classification of the asset, but refrained from promising possible consequences. This could include, for example, a lawsuit against the regulator, as Ripple did.
At the time of writing, MATIC is trading at $0.6308 (+5.4% over the last 24 hours). But if you take seven days of statistics, the picture is much bleaker:
The Solana Foundation also refrained from harsh criticism of the regulator. They said they “do not agree” with this definition of SOL, but also “support” the participation of politicians in a constructive dialogue to form unified rules for the industry.”
As of this writing, the token is trading at $15.13 (-3.12% in 24 hours). There is also a “dip” in the price trend here:
The fact that both companies are not willing to take decisive action against the SEC shows the strong position of the regulator. A positive outcome of the case against Ripple could swing the scales in the other direction. But only in theory.