涉及加密货币的某些证券交易委员会（SEC）案件的最新驳回促使有关Solana（Sol），Polygon（Matic）和Cardano（ADA）的法律地位的问题。

这些令牌面临审查。市场对法律不确定性做出了反应。 SEC在过去的诉讼中将这些令牌归类为证券。

Recent dismissals by a federal judge of certain Securities and Exchange Commission (SEC) cases involving cryptocurrencies have sparked interest in the legal standing of Solana (SOL), Polygon (MATIC), and Cardano (ADA).

联邦法官最近对某些证券交易委员会（SEC）案件（SEC）案件的驳回引发了人们对Solana（Sol），Polygon（Matic）和Cardano（ADA）的法律地位的兴趣。

What Happened: These three tokens faced scrutiny in the past as the SEC classified them as securities in its lawsuits against crypto exchange platforms. The dismissals by the judge, which prompted reassessments of the tokens’ legal status, came after a judge questioned the SEC’s broad definition of securities in its cases against the exchange platforms.

发生了什么：过去，这三个令牌在针对加密货币交换平台的诉讼中将其归类为证券，过去曾面临审查。法官的解雇促使对代币的法律地位进行了重新评估，此前法官质疑SEC在其针对交换平台的案件中对证券的广泛定义。

The SEC’s actions to classify certain crypto tokens as unregistered securities have significant regulatory implications for exchanges and token issuers, especially given the vast market capitalisation of these tokens.

SEC将某些加密代币分类为未注册证券的行动对交易所和代币发行人具有重大的监管含义，尤其是考虑到这些代币的大量市值。

However, recent court decisions have challenged the SEC’s approach, with judges demanding clearer definitions and requiring the agency to provide more evidence for its claims.

但是，最近的法院判决对SEC的做法提出了质疑，法官要求更明确的定义，并要求该机构为其主张提供更多证据。

A legal expert from Davis Polk & Wardwell highlighted the potential shift in regulatory focus, stating that the court decisions place a greater burden of definition and evidence on the SEC.

戴维斯·波尔克（Davis Polk＆Wardwell）的一位法律专家强调了监管重点的潜在转变，指出法院的裁决在SEC上赋予了更大的定义和证据负担。

“The court wants to see a more finely tuned definition of what an investment contract is and what the evidence of that is in the context of these tokens,” the expert said.

专家说：“法院希望看到对投资合同是什么以及在这些代币背景下的证据的更精细的定义。”

See More: Best Cryptocurrency Scanners

查看更多：最佳加密货币扫描仪

Why It's Important: The definition of a security, often determined using the "Howey Test," remains a central point of contention. Judges have requested specific evidence of investment contracts and direct agreements between issuers and buyers.

为什么重要的是：安全的定义通常使用“ Howey测试”确定，仍然是争论的中心点。法官要求发行人与买家之间的投资合同和直接协议的具体证据。

In its lawsuits, the SEC named SOL, MATIC, and ADA among the tokens it claimed were illegally sold as securities by exchange platforms. The regulator’s actions to shut down the crypto exchange platforms also brought forth issues of token delisting and the potential for legal action against token issuers.

在其诉讼中，它声称的代币中名为SOL，Matic和Ada的SEC被通过交易平台非法出售为证券。监管机构关闭加密交流平台的行动也提出了代币的问题以及对代币发行人采取法律行动的潜力。

The recent dismissals do not fully resolve these issues, but they shift the focus back to the SEC to provide a more focused and defined approach to regulating digital assets.

最近的解雇并不能完全解决这些问题，但是它们将重点转移到SEC，以提供一种更加集中和定义的调节数字资产的方法。

Top Industry Leaders Urge Congress to Create Clear Crypto Regulations: A Deeper Dive

顶级行业领导人敦促国会制定明确的加密法规：更深入的潜水

Industry analysts believe that legislative action is crucial to provide lasting clarity and stability to the crypto market. They suggest that Congress should take the lead in establishing a clear regulatory framework for digital assets, which would reduce uncertainty and foster responsible innovation in the sector.

行业分析师认为，立法行动对于为加密市场提供持久的清晰度和稳定至关重要。他们认为，国会应以建立数字资产的明确监管框架来领导，这将减少该行业的不确定性并促进负责任的创新。

The judge's decisions provide a degree of relief for Solana, Polygon, and Cardano, suggesting a potential change in regulatory enforcement that could affect the immediate legal pressure on these tokens. However, the long-term regulatory status of these tokens remains to be seen as the broader legal battles between the SEC and crypto firms continue to shape the future of digital assets and the boundaries of regulatory oversight.

法官的决定为Solana，Polygon和Cardano提供了一定程度的救济，这表明监管执法可能会改变，这可能会影响这些代币对这些代币的立即法律压力。但是，这些代币的长期监管状况仍有待视为，因为SEC和加密公司之间的更广泛的法律斗争继续塑造数字资产的未来和监管监督的界限。

The crypto market will be closely observing whether the SEC chooses to appeal the recent court decisions or adjust its strategy to focus on more narrowly defined categories of digital assets in future lawsuits.

加密市场将密切观察SEC是否选择对最近的法院裁决提出上诉或调整其战略，以专注于未来诉讼中更狭窄的数字资产类别。

Trading platforms showed a significant increase in trading volume for Solana, Polygon, and Cardano following the court decisions, which could be attributed to decreased legal uncertainty and increased market confidence. This led to traders accumulating tokens that were previously subject to legal concerns.

贸易平台显示出法院的裁决后，索拉纳，多边形和卡尔达诺的交易量显着增加，这可能归因于法律不确定性下降和市场信心增加。这导致交易者积累了以前受到法律关注的代币。

The absence of a clear regulatory framework poses challenges for market stability and Long-term investment decisions, as investors prefer regulatory certainty in making informed investment choices.

缺乏明确的监管框架对市场稳定和长期投资决策构成了挑战，因为投资者更喜欢在做出明智的投资选择时进行监管确定性。