After the United States Securities and Exchange Commission (SEC) named several prominent cryptocurrencies, including Cardano (ADA), as securities in the lawsuit against crypto trading platform Binance, the CEO of Cardano Foundation has expressed his organization’s disagreement.
Specifically, Fortune Magazine earlier reported on Frederik Gregaard’s statement on the issue, in which he argues for regulatory clarity and against the agency’s recent qualification of ADA as a security, as shared by the Cardano Foundation on June 6.
According to Gregaard:
“The Cardano Foundation disagrees with the recent qualification of ADA as a security under US law. We look forward to the continued engagement with regulators and policymakers to achieve legal clarity and certainty on these matters.”
Security or not?
As a reminder, the SEC chair Gary Gensler has repeatedly stated his view that nearly every crypto asset was a security, with the exception of Bitcoin (BTC), which means they represent a
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