Summary: The financial watchdog said 16 cryptocurrencies count as securities according to documents filed at a federal court. Tokens like SOL, MATIC, and ADA were named in lawsuits against Binance and Coinbase alleging violation of U.S. law. Chair Gary Gensler told CNBC that there’s no need for additional digital currencies since the Dollar and other fiat currencies are already digital. SOL, ADA, MATIC, and several other cryptocurrencies were named unregistered securities in two separate but similar lawsuits filed by the
