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Polygon Labs Responds to SEC's Claims of MATIC Being an Unregistered Security

Polygon Labs has responded to the SEC's allegations that MATIC is an unregistered security, stating that the token was developed and deployed outside the US and aimed at a global community.

The Polygon team claims that MATIC has been a necessary part of the technology from the beginning, ensuring network security. Despite the recent delisting of MATIC from Robinhood, Polygon Labs says its actions did not target the US and aimed to make the token available to a wide range of people. The SEC has explicitly labeled MATIC and 11 other tokens as securities in its lawsuit against Binance, causing a decline in the price of MATIC.

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