SEC Takes Aim at Binance and Shakes Up the Crypto Market

In a stunning development the US Securities and Exchange Commission (SEC) has launched a barrage of 13 charges against Binance and its CEO Changpeng Zhao . While this move has grabbed headlines the heart of the matter lies in the SEC’s classification of certain cryptocurrencies as securities . This classification has far-reaching implications not only for Binance but also for numerous crypto assets in the market .

SEC Lists 61 Cryptocurrencies Potentially Falling Under Securities Regulation

According to official documents The SEC has identified 61 cryptocurrencies that it believes could fall under the category of securities . Notably Ethereum is not included on this list as its classification remains a complex balancing act for regulators . Among some of the mentioned tokens are Binance’s BNB and BUSD along with SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS and COTI . This assortment spans stablecoins, Play2Earn tokens and metaverse tokens which makes it difficult to recognize the specific selection criteria employed by the SEC .

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