Ethereum co-founder Vitalik Buterin is “sorry” for many crypto projects as they have been hit by the US Securities and Exchange Commission (SEC).
The one comment I’ll make is that I feel bad that @solana and other projects are getting hit in this way. They don’t deserve it, and if ethereum ends up “winning” through all other blockchains getting kicked off exchanges, that’s not an honorable way to win, and in the long term…
— vitalik.eth (@VitalikButerin) June 30, 2023
The regulator called the Polygon (MATIC) and Solana (SOL) tokens, as well as a number of other coins, securities in lawsuits against the Binance and Coinbase crypto exchanges. Project representatives disagreed with the SEC definition.
“They don’t deserve it. If Ethereum ultimately “wins” due to the fact that all other blockchains will be forced out of the exchanges, this is not the most worthy way to win, and in the long run, this is probably not a victory at all, ”Buterin wrote.
The developer emphasized that the real competitor for Ethereum is not other networks, but “a rapidly expanding centralized world that imposes itself on us.”
He wished that “all worthy projects” achieve a fair outcome in the current situation.
Against the backdrop of SEC lawsuits, the American institutional platform Bakkt announced about the delisting of ADA, MATIC and SOL tokens due to “regulatory uncertainty”
According to user Redditfintech company Revolut informed customers in an email newsletter about the exclusion of the same coins in the US from September 19th.
As a reminder, Hong Kong blockchain game operator Animoca Brands decided to focus on “more progressive jurisdictions” outside the United States, as the SEC called the SAND coin an unregistered security.
Earlier, Commission Chairman Gary Gensler said that the crypto industry is full of scams and resembles the market of the 1920s before regulation was introduced.
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