SEC Halts $1B Solana-Related Purchases by DeFi, Moody's to Pilot Blockchain-Based Credit Rating System

The Securities and Exchange Commission (SEC) has halted a billion-dollar filing from DeFi Development Corp JNVR to deploy a large amount of capital into Solana SOL/USD. The capital would have helped in the acquisition and staking of Solana tokens. SOL dropped $7.16, or 4%, to 159.02 on Thursday.

The SEC intervened after raising concerns about the structure and transparency of the proposed filing. Specific concerns were not disclosed to the public. The implication signals a gray area for staking-related cryptocurrency investments. The SEC has expressed skepticism multiple times in the past, and the move shows closer scrutiny from the commission.

DeFi acknowledged the SEC's concerns and has said it would refile.

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Meanwhile, Moody’s, a leading credit rating agency, is set to pilot a blockchain-based credit rating system on Solana. The agency will use the on-chain system for tokenizing and managing the credit ratings. The move is a big leap in the collaboration of traditional financial infrastructure with the digital world.

Moody's said Solana's high network speed and cost-efficiency were the deciding factors. Solana provides an infrastructure with transaction throughput, strong developer action, and lower costs. Moody's tokenized municipal bonds with embedded credit ratings will permit tokens to be verified and accessed on-chain instantaneously without manual processing.

Technical indicators display an array of mixed reactions to recent news. RSI sits at 49.22 while oscillators and moving averages show varied signals.

Solana's current status is at a crossroads and highlights a broader stature of the crypto space in 2025.

The upcoming months will be vital to note if regulatory bodies bring more actionable frameworks for projects like Solana to have freedom of investment-based movement, and the Moody's pilot turns out to be successful.

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