SEC vs POLYGON

a year ago

SEC vs POLYGON

Polygon defends itself against SEC allegations

After the outbreak that caused the lawsuits of the United States Securities and Exchange Commission (SEC) against the exchange Binance and Coinbase, several cryptocurrency companies have released messages to defend themselves against the accusations that the regulator exposes in its arguments. Among these companies is Polygon Labs, which argues that its platform was "developed outside of the US, deployed outside of the US, and focused to this day on the global community that supports the network."

In response, Polygon insists that its activities were not focused on the US market.

However, the SEC's complaint spells out the reasons why Polygon was listed in this category along with 11 other cryptocurrencies: "Polygon has also routinely announced when crypto asset trading platforms have made MATIC available for trading, as the Binance-US platform in June 2020."

The SEC adds that Polygon, an Ethereum-compatible multi-chain network, has repeatedly posted about the company's "growth and development" and that it "has explicitly encouraged MATIC buyers to view MATIC as an investment in other ways."

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