Web3 Foundation, which applies to the Polkadot contract, once again clearly put forward its argument that its original DOT (DOT) dynamic password is not a security factor. In a tweet, the foundation described its unremitting efforts to comply with the implementation opinions of the United States Securities Law and the Securities and Exchange Commission on digital currency, and announced that DOT has successfully "morphed", which is mobile software, not security
The Web3 Foundation shared an excerpt from the Twitter space in December, in which Angela Dalton, who was identified as the consultant of the Foundation, described how the representatives accepted the invitation of the SEC, "come in and talk to us". Next, the foundation declared that:
"The Foundation will ensure that the SEC's comprehensive corporate vision of token deformation is resolved in a timely manner, [...] and take effective measures to manage the distribution of DOT tokens, so that other people will not own a lot of Internet market shares, refuse to buy from venture capital companies that are only interested in investment purposes, and market and promote non-technical tokens."
The foundation concluded: "The foundation firmly believes that DOT has already changed. It is not a kind of security. It is a kind of mobile software.". Polkadot is a multi-chain protocol. As of October 2022, 66 blockchain technologies are operating on the Internet and Kusama quasi-chain is operating on the Internet. The Web3 Foundation was founded by Gavin Field, founder of Ethereum, and released the Polkadot industry report in 2016. It is reported that Polkadot released the sub-chain in December 2021 and realized the product display.
The foundation pointed out in its post: "Our own experience is proactive.". "The United States Securities and Exchange Commission warmly welcomes the meeting with the Web3 Foundation and has always adhered to the spirit of open communication and chat."
The Web3 Foundation announced in early November that DOT is a non-safety organization. Its view has obviously not been confirmed by the SEC. The views of the foundation correspond to the important views of the SEC on the Ripple case. "Deformation" is a concept put forward by William Hinman, the former senior official of the Securities and Exchange Commission (SEC), in a wonderful speech delivered at the Yahoo Global Financial Industry Conference in June 2018.
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