The US Securities and Exchange Commission (SEC) has withdrawn its request to classify several tokens as securities in its lawsuit against cryptocurrency exchange platform Binance.
Several Tokens Affected
This decision means that the government agency is no longer asking the court to rule on the qualification of the affected tokens as securities. In its complaint against Binance, the SEC had claimed that several tokens, including BNB, BUSD, Solana, Cardano, Polygon, Cosmos, The Sandbox, Decentraland, Axie Infinity, and Coti, were securities.
Changing Perspectives on Crypto in the US
The SEC’s withdrawal comes as presidential candidates aim to appeal to pro-crypto American voters. Former President Donald Trump pledged to end the war on cryptocurrency as part of his election campaign, while members of the Democratic Party are also starting to adopt a more future-oriented approach to blockchain and crypto assets.
