Odaily News Jake Chervinsky, chief legal officer of Variant Fund, a venture capital firm focused on cryptocurrencies, posted on social media that he believes there is no reason to believe that the SEC has classified SOL as a non-security. In the Binance case, the SEC did not want to investigate a dozen tokens, which seemed to be just a litigation strategy rather than a policy change. It is important to note that the SEC still calls these tokens securities in other trading cases.