Cardano Shoots Down SEC Claim That ADA Is a Security
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Input Output Global (IOG), the firm behind Cardano, has responded to the Security and Exchange Commission’s claim that ADA is a security. On June 7, IOG responded to the SEC’s latest enforcement actions against Binance and Coinbase. In the filings, the regulator listed a large number of crypto assets that it deemed were securities. Among them was the Cardano native token ADA. Cardano Says No to ADA Security Claim The firm stated that the SEC filing “contains numerous factual inaccuracies” and will not impact its operations in any way. “Under no circumstances is ADA a security under U.S. securities laws.