{"id":544064,"date":"2023-01-27T00:00:00","date_gmt":"2023-01-26T21:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/polkadot-restates-its-case-that-dot-has-morphed-away-from-security-status\/"},"modified":"2023-01-27T00:00:00","modified_gmt":"2023-01-26T21:00:00","slug":"polkadot-restates-its-case-that-dot-has-morphed-away-from-security-status","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/polkadot-restates-its-case-that-dot-has-morphed-away-from-security-status\/","title":{"rendered":"# Polkadot restates its case that DOT has \u2018morphed\u2019 away from security status"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2fcc799c47e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2fcc799c47e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/polkadot-restates-its-case-that-dot-has-morphed-away-from-security-status\/#%E2%80%9D_Polkadot_restates_its_case_that_DOT_has_%E2%80%98morphed_away_from_security_status_%E2%80%9C\" >&#8221; Polkadot restates its case that DOT has \u2018morphed\u2019 away from security status &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Polkadot_restates_its_case_that_DOT_has_%E2%80%98morphed_away_from_security_status_%E2%80%9C\"><\/span>&#8221; Polkadot restates its case that DOT has \u2018morphed\u2019 away from security status &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvYjRmZWY3MjMtODZkYy00ZjdkLWFjYTItOWY1MWVlZDk2ZGQ5LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>The Web3 Foundation, which supports the Polkadot protocol, has again presented its argument that its native DOT (DOT) token is not a security. In a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> thread, the foundation emphasized its efforts to comply with U.S. securities laws, as well as Securities and Exchange Commission guidance on digital assets, and declared that DOT had successfully \u201cmorphed\u201d and is software, not a security.\u00a0<\/p>\n<p>The Web3 Foundation reposted an excerpt from a December Twitter Space where Angela Dalton, identified as an adviser to the foundation, described how representatives accepted the SEC\u2019s invitation to \u201ccome in and talk to us.\u201d Subsequently, the foundation claimed:<\/p>\n<blockquote><p>\u201cThe Foundation made sure the SEC&#8217;s full vision of token morphing was addressed, [\u2026] as well as taking steps to manage the distribution of the DOT token so that no individual holds a large percentage of the network, turning down purchases from VCs interested solely in investment purposes, and promoting the tech but not the token.\u201d<\/p><\/blockquote>\n<p>\u201cThe Foundation is confident DOT has morphed and is not a security. It is software,\u201d the foundation concluded. Polkadot is a multichain protocol that had 66 blockchains operating on it and its Kusama parachain network as of October 2022. The Web3 Foundation was founded by Gavin Wood, a co-founder of Ethereum, and released the Polkadot white paper in 2016. Polkadot <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/medium.com\/web3foundation\/less-trust-more-truth-polkadots-native-token-dot-has-morphed-and-is-not-a-security-b2a8847a70cc\">completed<\/a> its launch in December 2021 when it rolled out parachains, according to a Medium post. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Polkadot?ref_src=twsrc%5Etfw\">@Polkadot<\/a>&#8216;s native token DOT is, and always has been, co-ordinating software. Following W3F&#8217;s announcement on DOT morphing into a non-security, read the thread below to learn how DOT was able to morph, what Polkadot is, and the primary goals of the network. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/sAnU56GnIh\">pic.twitter.com\/sAnU56GnIh<\/a><\/p>\n<p>\u2014 Web3 Foundation (@Web3foundation) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Web3foundation\/status\/1618550186166620161?ref_src=twsrc%5Etfw\">January 26, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>\u201cOur experience has been a positive one,\u201d the foundation says in the post. \u201cThe SEC has welcomed meetings with the Web3 Foundation, and there has been a spirit of open communication and dialogue.\u201d<\/p>\n<p><strong><em>Related: Staking on Polkadot, explained<\/em><\/strong><\/p>\n<p>The Web3 Foundation\u00a0first declared DOT a non-security in November. Its position has <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arently not received confirmation from the SEC. The foundation\u2019s argument echoes key points in the SEC case against Ripple. \u201cMorphing\u201d is a concept put forward in a speech\u00a0delivered by former SEC official William Hinman at the Yahoo Finance All Markets Summit in June 2018. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/polkadot-restates-its-case-that-dot-has-morphed-away-from-security-status\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Polkadot restates its case that DOT has \u2018morphed\u2019 away from security status &#8220; The Web3 Foundation, which supports the Polkadot protocol, has again presented its argument that its native DOT (DOT) token is not a security. In a Twitter thread, the foundation emphasized its efforts to comply with U.S. securities laws, as well as&#8230;<\/p>\n","protected":false},"author":1,"featured_media":544065,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/b4fef723-86dc-4f7d-aca2-9f51eed96dd9.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75168,74898,70934,72287],"class_list":["post-544064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-polkadot","tag-sec","tag-regulation","tag-security"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/544064","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=544064"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/544064\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/544065"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=544064"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=544064"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=544064"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}