SEC Declares 61 Cryptos Securities, Binance Under Lawsuit Fire
Key Points:
- SEC now deems 61 cryptocurrencies as securities, including Ripple’s XRP and Binance’s coins.
- SEC covers over $100 billion worth of the crypto market, making up 10% of the total market capitalization.
- SEC chair claimed “everything other than Bitcoin” is a security.
The Securities and Exchange Commission has been actively involved in various lawsuits concerning the classification of cryptos securities.
The SEC has now accused a total of 61 cryptocurrencies of being securities, with the most recent 10 being added through its lawsuit against Binance. Some other notable cryptocurrencies that the SEC has deemed securities are Ripple’s XRP, LBRY’s LBRY Credits (LBC), and Algorand (ALGO) which was named along with five others in the charges against Bittrex in April. In February, the SEC charged Terraform Labs with fraud and labeled a total of 16 crypto assets as securities, including Terra Luna Classic (LUNC), Terra Classic USD (USTC), Mirror Protocol (MIR), and an estimated 13 Mirrored Assets (mAssets) that aimed to copy the price of stocks such as Apple and Tesla.
According to CoinMarketCap, there are currently around 25,500 cryptocurrencies in existence. The SEC’s litigated remit of the space means it now covers over $100 billion worth of the market or around 10% of the $1.09 trillion total market capitalization. This shows how significant the SEC’s lawsuits are for the cryptocurrency market.
SEC chair Gary Gensler has claimed that “everything other than Bitcoin” is a security that falls under the agency’s remit. Therefore, it is likely that the SEC will continue to bring more cryptocurrencies under its classification as securities. The SEC’s actions have far-reaching consequences for the cryptocurrency market, and its lawsuits are expected to impact how cryptocurrencies are traded and regulated in the future.
Some of the cryptocurrencies that have been deemed securities by the SEC are XRP, Telegram’s Gram (TON), LBRY Credits (LBC), OmiseGo (OMG), DASH, Naga (NGC), Monolith (TKN), IHT Real Estate (IHT), Power Ledger (POWR), Kromatica (KROM), DFX Finance (DFX), Amp (AMP), Rally (RLY), Rari Governance Token (RGT), DerivaDAO (DDX), XYO Network (XYO), Liechtenstein Cryptoasset Exchange (LCX), Kin (KIN), Salt Lending (SALT), Beaxy Token (BXY), DragonChain (DRGN), Tron (TRX), BitTorrent (BTT), Terra USD (UST), Luna (LUNA), Mirror Protocol (MIR), Mango (MNGO), Ducat (DUCAT), Locke (LOCKE), EthereumMax (EMAX), Hydro (HYDRO), BitConnect (BCC), Meta 1 Coin (META1), Filecoin (FIL), BNB (BNB), Binance USD (BUSD), Solana (SOL), Cardano (ADA), Polygon (MATIC), Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Axie Infinity (AXS), COTI (COTI), Paragon (PRG), and AirToken (AIR). Additionally, the Mirror Protocol has 13 Mirrored Assets (mAssets) that copy the price of stocks such as Apple and Tesla, including Mirrored Apple Inc. (mAAPL), Mirrored Amazon.com, Inc. (mAMZN), Mirrored Alibaba Group Holding Limited (mBABA), Mirrored Alphabet Inc. (mGOOGL), Mirrored Microsoft Corporation (mMSFT), Mirrored Netflix, Inc. (mNFLX), Mirrored Tesla, Inc. (mTSLA), Mirrored Twitter Inc. (mTWTR), Mirrored iShares Gold Trust (mIAU), Mirrored Invesco QQQ Trust (mQQQ), Mirrored iShares Silver Trust (mSLV), Mirrored United States Oil Fund, LP (mUSO), and Mirrored ProShares VIX Short-Term Futures ETF (mVIXY).
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
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SEC Declares 61 Cryptos Securities, Binance Under Lawsuit Fire
Key Points:
- SEC now deems 61 cryptocurrencies as securities, including Ripple’s XRP and Binance’s coins.
- SEC covers over $100 billion worth of the crypto market, making up 10% of the total market capitalization.
- SEC chair claimed “everything other than Bitcoin” is a security.
The Securities and Exchange Commission has been actively involved in various lawsuits concerning the classification of cryptos securities.
The SEC has now accused a total of 61 cryptocurrencies of being securities, with the most recent 10 being added through its lawsuit against Binance. Some other notable cryptocurrencies that the SEC has deemed securities are Ripple’s XRP, LBRY’s LBRY Credits (LBC), and Algorand (ALGO) which was named along with five others in the charges against Bittrex in April. In February, the SEC charged Terraform Labs with fraud and labeled a total of 16 crypto assets as securities, including Terra Luna Classic (LUNC), Terra Classic USD (USTC), Mirror Protocol (MIR), and an estimated 13 Mirrored Assets (mAssets) that aimed to copy the price of stocks such as Apple and Tesla.
According to CoinMarketCap, there are currently around 25,500 cryptocurrencies in existence. The SEC’s litigated remit of the space means it now covers over $100 billion worth of the market or around 10% of the $1.09 trillion total market capitalization. This shows how significant the SEC’s lawsuits are for the cryptocurrency market.
SEC chair Gary Gensler has claimed that “everything other than Bitcoin” is a security that falls under the agency’s remit. Therefore, it is likely that the SEC will continue to bring more cryptocurrencies under its classification as securities. The SEC’s actions have far-reaching consequences for the cryptocurrency market, and its lawsuits are expected to impact how cryptocurrencies are traded and regulated in the future.
Some of the cryptocurrencies that have been deemed securities by the SEC are XRP, Telegram’s Gram (TON), LBRY Credits (LBC), OmiseGo (OMG), DASH, Naga (NGC), Monolith (TKN), IHT Real Estate (IHT), Power Ledger (POWR), Kromatica (KROM), DFX Finance (DFX), Amp (AMP), Rally (RLY), Rari Governance Token (RGT), DerivaDAO (DDX), XYO Network (XYO), Liechtenstein Cryptoasset Exchange (LCX), Kin (KIN), Salt Lending (SALT), Beaxy Token (BXY), DragonChain (DRGN), Tron (TRX), BitTorrent (BTT), Terra USD (UST), Luna (LUNA), Mirror Protocol (MIR), Mango (MNGO), Ducat (DUCAT), Locke (LOCKE), EthereumMax (EMAX), Hydro (HYDRO), BitConnect (BCC), Meta 1 Coin (META1), Filecoin (FIL), BNB (BNB), Binance USD (BUSD), Solana (SOL), Cardano (ADA), Polygon (MATIC), Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Axie Infinity (AXS), COTI (COTI), Paragon (PRG), and AirToken (AIR). Additionally, the Mirror Protocol has 13 Mirrored Assets (mAssets) that copy the price of stocks such as Apple and Tesla, including Mirrored Apple Inc. (mAAPL), Mirrored Amazon.com, Inc. (mAMZN), Mirrored Alibaba Group Holding Limited (mBABA), Mirrored Alphabet Inc. (mGOOGL), Mirrored Microsoft Corporation (mMSFT), Mirrored Netflix, Inc. (mNFLX), Mirrored Tesla, Inc. (mTSLA), Mirrored Twitter Inc. (mTWTR), Mirrored iShares Gold Trust (mIAU), Mirrored Invesco QQQ Trust (mQQQ), Mirrored iShares Silver Trust (mSLV), Mirrored United States Oil Fund, LP (mUSO), and Mirrored ProShares VIX Short-Term Futures ETF (mVIXY).
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
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