• Ethereum (ETH) creator Vitalik Buterin has voiced his concerns about the US approach to crypto regulation and the negative impact it has had on projects like Solana.
• The SEC classified Solana (SOL) as a security in the lawsuit against Binance and Coinbase, along with other tokens such as Cardano (ADA), Polygon’s MATIC token, Filecoin (FIL), and Axie Infinity (AXS).
• Despite this, Ether was not affected and remains unregulated by the SEC.
Buterin Criticizes US Crypto Policy’s Detrimental Impact on Projects Like Solana
SEC Classifies Several Tokens as Securities in Lawsuit Against Binance and Coinbase
The Security Exchange Commission has recently classified several tokens, including Solana (SOL), Cardano (ADA), Polygon’s MATIC token, Filecoin (FIL), and Axie Infinity (AXS) as securities in their lawsuit against both Binance and Coinbase. However, Ether was not affected by this suit.
Vitalik Buterin Expresses Concern over US Crypto Regulation
Ethereum creator Vitalik Buterin expressed his concern over the US approach to crypto regulation and its detrimental impact on projects like Solana. He stated that if Ethereum were to succeed by excluding other blockchains from exchanges, it would not be a moral or sustainable victory in the long run.
SEC Chair Gary Gensler Uncertain About Ethereum Classification
During testimony before the House Financial Services Committee in April 2021, SEC Chair Gary Gensler declined to provide a definitive answer regarding whether Ether should be classified as a security or commodity. He reiterated that it depends on facts and law.
Buterin Notes Real Competition Lies Not Between Blockchains but Fast-Growing Centralized World
Ethereum co-founder Vitalik Buterin noted that real competition lies not between rival blockchains but rather with fast-growing centralized world exerting influence. He expressed sympathy towards projects like Solana facing adverse consequences due to US crypto policy regulations.