The United States Securities and Exchange Commission is determining which crypto-assets are securities. Several altcoins, including Cardano (ADA), have been labeled as security by the SEC. Subsequently, Input Output Global (IOG) – the developing firm behind the Cardano ecosystem – released a statement dismissing SEC’s claims that ADA is a security. In a recently published , IOG said ADA is not a security under United States securities laws and has never been. The tech firm noted that the commission’s approach of regulating the asset class through enforcement “does not provide either the clarity or clarity needed”
Source: Chayanika Deka, 2023-06-10; https://cryptopotato.com/cardanos-iog-dismisses-secs-claim-that-ada-is-a-security/