Cardano And Solana Counterattack Against SEC's Classification Of Cryptocurrencies As Securities
Portfolio Pulse from Murtuza Merchant
IOG, the company behind Cardano (ADA), and the Solana Foundation (SOL) have rebutted the SEC's claims that their native tokens could be classified as securities. This follows the SEC's legal action against Binance and Coinbase, where ADA was named among other tokens considered as securities. The SEC's allegations have impacted the cryptocurrency market, with ADA witnessing a 3% decline within 24 hours.
June 09, 2023 | 3:45 pm
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NEGATIVE IMPACT
Cardano's ADA token has been impacted by the SEC's allegations, witnessing a 3% decline within 24 hours.
The SEC's allegations against Cardano's ADA token have directly impacted its price, causing a 3% decline within 24 hours. This negative sentiment may continue to affect ADA's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The Solana Foundation has disputed the SEC's classification of SOL as a security, but the market may still react to the heightened regulatory scrutiny.
Although the Solana Foundation has disputed the SEC's classification of SOL as a security, the market may still react negatively to the heightened regulatory scrutiny, potentially affecting SOL's price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100