SEC to Amend Complaint Against Binance, Drops Solana Securities Claim, Including Changpeng Zhao

Jul 30, 2024, 06:58 AM

The U.S. Securities and Exchange Commission (SEC) has announced its intention to amend its complaint against Binance Holdings, Binance US, and former CEO Changpeng Zhao. The amendment, detailed in a filing, includes redefining 'third-party crypto asset securities' and dropping its claims that tokens such as Solana (SOL) are unregistered securities. This move could potentially impact the court’s decision on the classification of these tokens. Previously, the SEC had labeled tokens like SOL, ADA, and MATIC as securities in its lawsuit against Binance. The SEC informed Binance that it intends to seek leave to amend its complaint.