Veteran crypto expert, influencer, and investor Dan Gambardello of Crypto Capital Venture, US regulator SEC Cardano (ADA) announced that it is unlikely to qualify as a security.
According to Gambardello, the SEC crisis for Binance USD (BUSD) will not spread to Cardano (ADA). Gambardello based his view on a number of past events.
“Since Cardano Made Its Initial Coin Offering (ICO) in Japan, It Cannot Be Targeted by the SEC”
First of all, Cardano’s (ADA) initial coin offering (ICO) was held in Japan; no US investor was prohibited from participating in this fundraising. The protocol had raised over $62 million in 2016, from $0.0024 per ADA.
Therefore, according to Gambardello, US regulators cannot accuse Input Output Global, EMURGO and other firms involved in the development and marketing of Cardano (ADA) of offering unregistered securities.
Gambardello’s famous LBRY v. It also reminded me of the SEC case. In this case, the US judge ruled that secondary sales of LBC tokens could be considered as sales of securities. Cardano (ADA) also looks similar to Gambardello in this regard.
To qualify as a “securities” is an act as it changes the regulatory status of all token holders. cryptocurrency one of the worst things that can happen to you. For example, the alleged security status of Binance USD (BUSD) caused its issuer, Paxos Global, to cease token issuance.
Also, Ripple Inc. The legal battle between the SEC and the SEC over the security status of XRP has been going on for over two years and there is no clear winner. If Ripple loses, its founders will be blamed for the $2 billion unregistered securities offering.
*Not investment advice.
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