Web3 Foundation, the company responsible for Polkadot and Kusama, has announced that Polkadot native token DOT is now software and no longer a security.
The Foundation claimed that the announcement is premised on its three years of active engagement with the US Securities and Exchange Commission (SEC) which started in November 2019. The company took the SEC’s offer to “come in and talk to us.”
Polkadot Engages SEC
A blog post by Web3 Foundation Chief Legal Officer Daniel Schoenberger also explained the development. He said that Polkadot did not envision that its DOT token would be security and has worked to be in compliance with federal securities law.
In 2019, a few months before Polkadot launch in…
