SEC's 'Dropping Security Charges for Certain Tokens' News is Overblown, Groundless

SEC's 'Dropping Security Charges for Certain Tokens' News is Overblown, Groundless

SEC Did Not Backtrack on Proving SOL is Security, Crypto Community Calls Zoomer News Report 'Fake News' Breaking News The recent report by Zoomer News claiming that the SEC has "backed down" from proving that tokens such as SOL are securities is completely false and based on a misinterpretation of a court filing. Key Points: SEC's Complaint Amendment: The SEC is seeking to amend its complaint to include "third party issued crypto asset securities" explicitly. SOL Not Mentioned: The document cited by Zoomer News does not mention Solana (SOL) or indicate that the SEC is giving up on proving it as a security. * Manipulation Through Fake News: Crypto media outlets are calling the Zoomer News report "an act of market manipulation through fake news." Verification and Analysis Cryptonewsterminal has verified that the SEC document indeed contains a request to amend the complaint, stating that the court does not need to "make an immediate decision on the sufficiency of the allegations regarding the relevant tokens." Previous SEC Actions The SEC previously sued Binance and designated tokens such as SOL, BNB, BUSD, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI as securities. It is possible that this definition will change after the complaint amendment. Conclusion The SEC has not "dropped security charges" for certain tokens. The Zoomer News report is misleading and should be dismissed as fake news. The crypto community should remain vigilant against such attempts to manipulate the market through false information.