Is MATIC a security? Both SEC & Avorak said no

The US Securities and Exchange Commission (SEC) has brought over 100 enforcement actions against cryptocurrencies it deems securities within the past decade. The confusion reigning in SEC’s vague regulatory environment and double standards is whether MATIC is a security under the definition of US laws. Deciding whether a cryptocurrency is secure is crucial for the SEC and digital asset issuers, as it brings significant implications for regulation, compliance, and investor protection. 

What is security?

As opposed to commodities, securities are strictly regulated, and the SEC requires investors to disclose potential risks. SEC’s regulatory stance is that some cryptocurrencies are securities, and investors in these assets participate in a common enterprise.

Is MATIC a security? 

MATIC is a cryptocurrency and a native token of the Polygon Network platform. Polygon is a Layer-2 scaling solution applying sidechains to augment and speed up transactions on the Ethereum blockchain. MATIC is a popular altcoin currently traded on several DEXs. The Polygon price is 73% below its ATH of $2.7275 in December 2021, falling by 14% in the last seven days.

However, Polygon price prediction foresees a future MATIC price increase. While the SEC previously stated that MATIC is not a security, it has recently said it is indeed a security during its ongoing crackdown on Coinbase. Contrasting its earlier stance, the SEC alleges that 13 digital assets sold on Coinbase, including MATIC, are securities. The ongoing debates among crypto investors and issuers have rekindled the discussion citing double standards. Avorak AI, the AI crypto project with solutions across blockchains and industries, is confident that in light of current regulations and market trends, MATIC is not a security, standing by the SEC’s previous position.

Avorak AI

Avorak AI is an expansive solution deploying significant strides in artificial intelligence and blockchain through a comprehensive bundle of AI tools. Avorak AI has cemented its position as a leader in AI crypto with a range of innovative products and services.

Avorak Write is a powerful content writing tool powered by advanced natural language processing capabilities. Avorak Write leverages state-of-the-art algorithms to generate high-quality written content across various domains and genres.

Avorak Write - Content Generation Tool

Avorak AI’s success extends beyond its product offerings through its investment vehicle AVRK. Its ICO in phase seven at $0.255 has garnered significant attention, with experts and analysts featuring the project in their YouTube videos. The ICO has been performing remarkably well, realizing 325% value gains and attracting substantial funding from investors who recognize the potential of Avorak AI’s technology and its applications in the AI and blockchain domains. Early investors in the ICO are rewarded through on-top bonuses, providing additional tokens or benefits on top of the initial investment.

Avorak Trade Bot is a crypto trading tool designed to simplify and optimize cryptocurrency trading. The trading bot leverages AI algorithms and machine learning techniques to analyze market trends and can execute trades. With its sophisticated features and user-friendly interface, Avorak Trade Bot empowers traders to make prudent investment decisions.

Avorak Trade - An AI & Blockchain-Powered Trading Platform

Wrap up

While the debate over whether MATIC is security continues, the previous views of the SEC have been valuable in guiding investors’ decisions. It is paramount to note that while Avorak AI believes MATIC is not a security, regulatory bodies may choose to reclassify the token in the future, potentially affecting its value and market traction. Nonetheless, the project’s future looks promising with the ongoing successful Avorak ICO and growing adoption of AVRK.

For more on Avorak AI and ICO, visit here:-

Website: https://avorak.ai

Buy AVRK: https://invest.avorak.ai/register

Source: https://www.cryptonewsz.com/is-matic-a-security-both-sec-and-avorak-said-no/