In its recent lawsuits against crypto exchanges, Coinbase and Binance, the Securities and Exchange Commission (SEC) of the United States labeled Solana (SOL) a security. Responding to the SEC’s claims, the Solana Foundation has announced that SOL is not a security.
In other news, a new crypto exchange that isn’t centralized will offer a wide range of assets to traders, including SOL and derivatives from the global market.
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- The Solana Foundation has disputed the SEC’s classification of SOL as a security
- According to the Solana Foundation, the SEC’s claims about the status of SOL will not affect developers building on the Solana blockchain
- Tradecurve is a hybrid exchange that combines the best features of centralized and decentralized exchange models
SOL Is Not A Security: Solana Foundation
In lawsuits filed against Coinbase and Binance, the U.S. SEC alleged that SOL, the utility token of the Solana Network, was sold as an unregistered security. In a statement responding to the SEC’s claims, the Solana Foundation stated that it disagrees with the classification of SOL as a security by the regulator.
In the statement, the Solana Foundation said that they are ready to work with policymakers and regulators to reach legal clarity on the status of SOL. Despite the initial losses suffered by Solana after the SEC’s announcement, the Solana Foundation isn’t overly concerned about the statement, revealing that developers are still building on the network regardless.
SOL was publicly launched in 2020 by Solana. As a Proof of Stake (PoS) project, SOL is used to secure the Solana Network via staking and reward individuals for participating in the governance process of the network. The SEC has previously targeted staking as a service which could be the reason why it classified SOL as an unregistered security.
This New Hybrid Exchange Offers a Great Opportunity for Crypto Traders
There is a new exchange building excitement in the crypto space, mainly because it isn’t centralized. Centralized crypto exchanges have come under intense scrutiny over the last few months because of their lack of transparency in operations.
Crypto traders are particularly hyped about Tradecurve because it will be the first major exchange to return complete control of digital assets and private keys back to traders.
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Tradecurve is able to do this because it combines the best benefits of a decentralized exchange model with the major characteristics of a centralized exchange. The decentralization aspect of Tradecurve also means that traders no longer need to struggle with KYC requirements as they can now open accounts with only their email addresses. This would allow traders from anywhere in the world to trade a wide variety of digital assets.
In addition, Tradecurve will offer access to more financial instruments than competing exchanges like Binance and Coinbase because the platform seamlessly bridges the cryptocurrency market with the global derivatives market, including stocks, forex, commodities, options, and ETFs.
Tradecureve (TCRV) is currently in the fourth stage of its presale and retails for $0.018 per token, with an expected price jump to $0.025 this week.
Market analysts predict that given the current rate of accumulation, the price of TCRV could further increase by up to 100x in the upcoming months.
Visit the links below to get more information about Tradecurve and the TCRV token:
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