The Solana Foundation fought back against allegations from the Securities and Exchange Commission that SOL, the native token for the Solana blockchain, and 12 other tokens are unregistered securities in the two lawsuits it filed against Binance and Coinbase on Monday and Tuesday, respectively.
The Solana Foundation strongly believes that SOL is not a security, the Foundation said in a statement to Fortune. We welcome the continued engagement of policymakers as constructive partners on regulation to achieve legal clarity on these issues for the thousands of entrepreneurs across the U.S. building in the digital assets space.
Fortune will update this story as more details come in.
Learn more about all things crypto with short, easy-to-read lesson cards. Click here for Fortunes Crypto Crash Course.
