From Nasdaq

July 30, 2024 12:55 pm:

The SEC has decided not to classify popular crypto tokens like Solana, Cardano, and Polygon as securities in the lawsuit against Binance. This shift means the court won’t decide on their classification for now.

Initially targeting various tokens, the SEC claimed at least 68 tokens were securities, potentially impacting over $100 billion in the crypto market.

Amid shifting attitudes towards crypto in the US, the SEC’s retreat comes as lawmakers consider a more forward-looking approach to digital assets. Former President Donald Trump pledged to end the “war on crypto” if re-elected, aiming to make the US the “crypto capital of the planet.”

With the SEC stepping back, investors may consider exploring crypto-related stocks that could benefit. Companies involved in crypto infrastructure, exchanges, and blockchain technology may see a boost, as regulatory uncertainty around major tokens eases. Stocks of firms like Coinbase and crypto mining companies could gain traction.

Read more at Nasdaq: SEC Drops Battle on Crypto Tokens: Solana, Cardano Off the Hook