Web3 Foundation, a non-governmental organization headquartered in Zug, Switzerland has released an announcement that they have come to the realization that Polkadot’s native token (DOT) is only software and not a security because it has morphed.
Their view is consistent with that of the U.S Security and Exchange Commission (SEC).
In a recent press statement made by Web3 Foundation’s Chief Legal Officer, Daniel Schoenberger, the staff of the United States SEC Strategic Hub for Innovation and Financial Technology (FinHub) released a framework for Investment contracts to analyze digital assets.
The framework suggested that almost all digital assets that are being sold for the purpose of fundraising were initially meant to be a security in the hands of the initial buyer.
The framework, however, also suggested that there also exists factors that could result in complaints, for example, a complaint that exists when…
