The progress of the Aleo project with the US SEC hearing is as follows: #ALEO#

1. Latest Developments (July 23, 2025)
Hearing held: The U.S. Southern District Court of New York held a preliminary hearing on July 22 to discuss the SEC's allegations against Aleo (suspected unregistered securities offering).
Core Controversy:
The SEC claims: Aleo's token $ALEO is classified as a security, and its token sales and mining activities from 2021 to 2023 were not registered in accordance with the law.
Aleo defends: emphasizing that the essence of the technology is a privacy computing network, and the token is a functional tool (Utility Token), citing similar cases (such as Ripple) to advocate for exemption.
Judge's attitude: The judge did not rule in court and required both parties to submit supplementary materials by August 19, focusing on whether the "token economic model constitutes an investment contract."
2. Subsequent Key Milestones
August 19: Both parties submit supplementary evidence (including token allocation details, community governance rules, etc.).
Early September: A second hearing may be held to rule on whether to dismiss the SEC lawsuit or proceed to formal trial.
Potential impact:
Aleo may become another case establishing "functional tokens as non-securities" following Ripple.