Polkadot Executive: DOT Hasdepat Dari Sekuritas Menjadi Software

Polkadot's main coin, DOT, has turned into non-sequence. (Photo; Doc. Bithub)

JAKARTA One of the top Polkadot (DOT) officials, recently insinuated US regulators, the Securities and Exchange Commission (SEC) by stating that the original Polkadot token, namely DOT, has undergone changes from securities to software or software. Therefore, DOT is no longer considered a security.

This was conveyed by Daniel Schoenberger, head of the Web3 Foundation law. According to him, DOT is no longer a security because it has developed into software, therefore it is not under the jurisdiction of the SEC regulatory body.

"Over the years, we have developed what we believe is an applicable theory of how morphing tokens can be achieved for increasingly decentralized projects, such as Polkadot, and digital assets that, apart from being offered and sold initially for fundraising purposes, do not, by themselves, have characteristics like securities. We have shared this theory many times with the SEC..." said Schoenberger, launching DailyHodl.

"Consistent with the views we have shared with SEC staff, we are pleased to announce that the DOT, the original digital asset of the Polkadot blockchain, has changed. In our view, the current offerings and sales of DOT are not securities transactions, and DOT is not security. This is just software," he added.

Schoenberger said that while DOT could be considered a security at first, the team behind it ensured that they were doing everything they could to change it, including talking to the SEC.

"Whatever is needed for a DOT, the original token from the Polkadot blockchain to be - or to be - non-sequence, we are willing to do it. So, we decided to try to take the FinHub staff [Strategic Hub for Innovation and Financial Technology] SEC on the offer to 'enter and talk to us'."

The executive went on to say that the SEC is open and willing to communicate, leading the Web3 Foundation to create solutions to problems the regulatory agency might have about the DOT transformation.

"Our experience is very positive. The SEC has welcomed the meeting with the Web3 Foundation, and there is a spirit of open communication and dialogue. Such ongoing interactions have given us a deeper understanding of some SEC concerns and have helped us develop solutions to overcome them," concluded Schenberger.