Web3 Foundation makes bold claim to SEC: 'DOT is not a security. It is merely...

Web3 Foundation makes bold claim to SEC: 'DOT is not a security. It is merely...

According to CLO Daniel Schoenberger, the team developed a “workable theory of how token morphing may be achieved” for DOT based on the SEC’s concerns and federal securities laws. The entity supporting research and development of Polkadot as well as overseeing fundraising efforts for the blockchain has argued that the United States Securities and Exchange Commission should not consider the DOT token a security under its regulatory purview.In a Nov. 4 blog post, the Web3 Foundation Team’s chief legal officer Daniel Schoenberger said Polkadot’s native token (DOT) had “morphed” and was....


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