Will Cardano $ADA be deemed a security? Seasoned expert cryptorecruitr shares his take Cardano ADA
. In this case, the U.S. judge ruled out that secondary sales of LBC tokens could be treated as securities sales. Cardano looks the same in this context for Gambardello.Being dubbed a"security" is the worst thing that could happen to a crypto token as it changes the regulatory status of all of its tokenholders. For instance, the alleged security status of Binance USD made its issuer, Paxos Global, cease minting the tokens.
Also, the legal battle between Ripple Inc. and the SEC over the security status of XRP has gone on for over two years with no clear winner. Should Ripple lose, its founders would be charged for a $2 billion unregistered securities offering. At the same time, the confirmed"nonsecurity" status is very rare in crypto. In 2022, Polkadot became the only token that managed to obtain it.
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