SEC Provides Clear Explanation for Why Terra Luna Classic, Polygon, and 3 Other Cryptocurrencies Are Classified as Securities
In a new lawsuit involving Consensys, the Securities and Exchange Commission (SEC) has shed light on its position regarding the classification of various well-known cryptocurrencies as securities. Notably, the SEC has explicitly stated that Terra Luna Classic (LUNA), Polygon (MATIC), The Sandbox (SAND), Chiliz (CHZ), and Decentrland (MANA) were originally marketed and sold as investment contracts. This recent legal action highlights the SEC’s insistence on considering these digital assets as securities.