Cardano development company: does not recognize SEC's classification of ADA as a security, claims the allegations will not affect the company's operations

ChainCatcher news, Cardano developer IOG responded to the SEC's classification of ADA as a security, stating that the accusation contains many factual inaccuracies and that ADA should not be classified as a security by the SEC under any circumstances. Understanding how decentralized blockchains operate is a fundamental component of responsible legislation. Furthermore, these accusations will not affect IOG's operations.

Previously reported, the tokens named as unregistered securities in the lawsuits filed by the SEC against Binance and Coinbase include SOL, MATIC, and ADA. (CoinDesk)