The United States Securities and Exchange Commission (SEC) has not definitively classified Solana (SOL) as a non-security, despite retracting its request for a court ruling on the matter as part of its ongoing lawsuit against Binance.
In a recent post on X, Jake Chervinsky, Chief Legal Officer at crypto-focused venture capital firm Variant Fund, noted that there “is no reason to think SEC has decided SOL is a non-security.” “That they don’t want to do discovery on a dozen tokens in the Binance case appears to be a litigation tactic, not a change in policy,” he added.