Cryptocurrency 41 minutes ago (Nov 06, 2022 07:40PM ET)
Web3 Foundation makes bold claim to SEC: ‘DOT is not a security. It is merely software’
The entity supporting research and development of , as well as overseeing fundraising efforts for the blockchain, has argued that the United States Securities and Exchange Commission should not consider the Polkadot (DOT) token a security under its regulatory purview.
In a Nov. 4 blog post, the Web3 Foundation Team’s chief legal officer Daniel Schoenberger said Polkadot’s native token had “morphed” and was “software” rather than a security. Schoenberger said the claim was “consistent with the views” it had shared with the SEC following discussions it began in November 2019.