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Are Solana, Polygon and Cardano in the Clear After SEC Crypto Case Dismissals?

Are Solana, Polygon and Cardano in the Clear After SEC Crypto Case Dismissals?
The SEC's recent dismissals and closures of lawsuits against various crypto companies have brought excitement to the digital assets industry, but legal experts caution that it may be too soon to celebrate. While the secondary marketplaces of crypto appear to be in the clear, the SEC has not yet addressed the legal statuses of the thousands of tokens listed on those exchanges. Some experts believe that certain tokens may still be deemed securities by the SEC. Last week, SEC Commissioner Hester Peirce proposed a taxonomy for digital assets, classifying tokens as unregistered securities if they possess characteristics of securities or are marketed as investment contracts. However, some lawyers are confident that established tokens will not face scrutiny from the SEC. Drew Hinkes advises crypto projects to remain cautious until the SEC provides concrete declarations on specific tokens or categories. Nonetheless, there are positive signs as legal experts recently met with the SEC's crypto task force to present a proposal for crypto regulation, and there was openness to new ideas.

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