Vitalik Buterin, the co-founder of Ethereum, has expressed his regret for the projects that have been affected by the recent lawsuits of the SEC in the United States.
The SEC declared the tokens Polygon (MATIC) and Solana (SOL) as security and took legal actions against both Binance and Coinbase crypto exchanges.
Buterin was against these regulations and wishes that all related projects have a fair outcome in this matter.
To support his statement he suggests that Ethereum is not in competition with them and the common threat is the “expanding centralized world.”
Furthermore, the current situation has caused a delisting of ADA, MATIC and SOL tokens from regulated platforms like Bakkt and Revolut.
Hong Kong blockchain gaming company Animoca Brands decided to focus on other countries due to the SAND coin being ruled as an unregistered security.
Gary Gensler, the chairman of the commission, also indicated the presence of scams in the crypto market which made it similar to the one in the 1920s before regulations were enforced.