Altcoins investors such as Solana (Sol), Cardano (ADA), and BNB, the native tokens of the BNB chain must closely follow the debate on legislative proposals known as Responsible Financial Innovation (RFI Act).
This initiative can establish important distinctions in the US by categorizing cryptoactives, including Bitcoin (BTC), in two categories. securities (value) or auxiliary asset. This has great significance in its regulation and use.
According to the bill, supplementary assets are defined as intangible and commercially independent (like raw materials –merchandise– Digital) Provided, sold or distributed in connection with an investment agreement. Also, as already reported by Cryptootics, Bitcoin is a strong candidate to fall into this category due to its decentralized nature and the absence of central callers.
However, as Altcoins Solana, Cardano and BNB must go through the verification process before the Stock Exchange and Value Committee (SEC) It will become a major regulator.
Achieving classification as a subasset will exempt the project from heavy securities regulations. The founder of the subasset (which initially provides, sells, or distributes it) can even present a self-attack before the evidence-backed SEC.
And if the agency does not rebut in 60 days, it will acquire a status of relative legal certainty. However, it is not a free path as its founders and emitters must meet regular adoption requirements. safety.
According to Cryptopedia, the Bitcoin de Cryptonoticias Education Academy, securitiesknown as a valuable title in Spanish, it is a negotiable financial product.
This is a category covering all assets negotiated on stock exchanges, brokerage companies and financial markets. Its main feature is its expectation to generate profits derived primarily from third party efforts.
Classified as a value This means complying with strict regulations established under securities laws. The US has included current regulations for over 90 years, including ACT Securities in 1933 and Exchange Act Securities in 1934.
Solana and Cardano¿ Securities or subsidized assets?
Reaching the classification as a subasset is a key objective of the project in the digital asset ecosystem focused on decentralization.
In the case of Solana and Cardano, both are projects that can demonstrate decentralization. This is because there is a validator and an active community rather than a single central entity.
However, the SEC can question the efforts of Solana’s founders and demonstrate that their projects are decentralized. This is mainly due to Repeated criticism of the level of network decentralization.
In a recent case, for example, Sol faced a vulnerability that could undermine the user fund, which was carefully resolved. The correction was made private and produced discomfort among ecosystem participants due to lack of transparency and potential impacts on decentralization, Cryptonotics reported.
At the time, there were some data shown by the four main characters. Solana validators control about 80% of the sun with stainingfacilitating unilateral decisions and strengthening complaints about the centralisation of those participants.
However, other data slowers pointed out that out of Solana’s 1,300 validators, platforms such as Helius, Binance Staking, Galaxy and Coinbase have the highest percentage of solar staking, each representing 2% to 3% of the total solar.
Therefore, once the RFI initiative becomes law, we should expect the SEC to analyze data that allows the founders of the project to know whether Solana will classify it as a supplementary asset.
On the other hand, the SEC can argue that the initial token sale or the continuing role of that foundation (Solana Foundation or IOHK) constitutes a “investment agreement.” In this case, it is adaptable and not troublesome, but faces prevalence requirements.
Instead, Cardanos can have an easy path when qualifying as a subsidy. If the SC approves the process where the project began last December and attempts to integrate decentralization of the network.
From that moment on, the model reduces the dependence of founding entities (IOHK, Cardano, Emurgo Foundation) that previously dominated decisions, and empowers them to influence Cardano’s future through voting or in-person participation. The migration launched with Voltaire Era is seeking to ensure network sustainability and community leadership.
For community members, Cardano points out decentralization, so the ADA is believed to be active in US digital reserves, SOL and XRP.
BNB was trapped under the shadow of Binance
BNB cases are much more complicated and dangerous. Unlike Solana and Cardano, his fate is closely linked to Binance, the world’s largest centralized cryptocurrency exchange.
If a company is looking for BNB classification as a supplementary asset, the SEC can easily claim it The value of this asset depends directly on the management efforts of the exchange.
Its usefulness (fees discounts, access to products) is fixed in Binance’s success and decisions, in which case it is clearly categorized. safety. This centralized connection is what the law seeks to distinguish it from subsidized assets, and is a central argument for the demands the SEC has already opposed to vinance.
If BNB is declared as a value, The outcome can be serious. This is because Binance faces strict registration and prevalence requirements for its cryptocurrency, which could limit its operationality in the US, shoot its costs, and create significant uncertainty in the market.
In any case, if Binance can convince regulators that BNB’s usefulness exists in a distributed network (BNB smart chain) and does not exist in the company, it aims to become a subsidized asset. However, his challenge to demonstrate decentralization and end the dissemination obligation is much greater than that of his competitors.
As a strength, to include BNB in the category of subassets, we can present the argument that Binance has the ability to help distribute power to the community in the BNB chain. For example, BNB owners can participate in network governance when voting for important decisions. Selecting validators, changing network parameters, etc..
In this way, it promotes a sense of wealth and participation among users. This is the fundamental principle of decentralization. Additionally, although the number of networks is limited, these are chosen according to the amount of BNB you have in your staking. This allows a variety of participants to become validators, encouraging diversity and decentralization in transaction validation.
Beyond that, we need to keep in mind that Responsible Financial Innovation Act does not treat all cryptocurrencies equally. At that core, we reward decentralization. But it still has to go through a long process to become law.
In itself, proposals for the RFI Act must follow a strict legislative process that requires checking whether it has been successful. It will be discussed and potentially amended by the committee after its draft presentation by the Senate Banking Committee and before it is submitted to the Senate vote.
If approved, it will be sent to the House of Representatives. There, a process that could take months or years to be approved by the US President, can be in harmony with clear laws and suggestions such as facing clear laws and faces.
