The United States Securities and Exchange Commission – SEC identifies 61 cryptocurrencies as securities impacting an astonishing $100 billion in token value. The SEC’s expanding list of cryptocurrencies labeled as securities now includes the recent lawsuit against Binance.
The SEC’s Extensive Litigation:
Throughout the years, the SEC has been involved in a multitude of legal battles, leading to the categorization of 61 cryptocurrencies as securities. This comprehensive process has enabled the regulatory agency to determine which cryptocurrencies fall within its purview and are subject to securities regulations.
Binance Lawsuit and Newly Classified Cryptocurrencies: In the recent Binance case, the SEC has included 10 cryptocurrencies in the securities category. These newly classified tokens consist of BNB, Binance USD, Solana, Cardano, Polygon, Cosmos, The Sandbox, Decentraland, Axie Infinity, and COTI (COTI). Additionally, Ripple’s XRP, LBRY Credits (LBC), and Algorand are among other significant cryptocurrencies that have been recognized as securities by the SEC.
The Most Extensive Incorporation of Cryptocurrencies in a Single Lawsuit:
In February, the SEC brought charges of fraud against Terraform Labs, resulting in the classification of 16 cryptocurrency assets as securities. This collection comprises Terra Luna Classic (LUNC), Terra Classic USD (USTC), Mirror Protocol (MIR), and around 13 Mirrored Assets (mAssets) that replicate the prices of popular stocks such as Apple and Tesla.
The SEC’s inclusion of these cryptocurrencies brings its regulatory purview to over $100 billion worth of the crypto market, representing approximately 10% of the total market capitalization of $1.09 trillion. SEC Chair Gary Gensler has expressed that, apart from Bitcoin, the agency considers everything else to be a security falling under its jurisdiction. Notably, CoinMarketCap lists around 25,500 cryptocurrencies in existence.
Comprehensive List of SEC-Deemed Crypto Securities:
The SEC has officially declared 48 crypto tokens as securities, including XRP, Gram (TON), LBRY Credits (LBC), OmiseGo (OMG), DASH, Algorand, 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 SEC has classified 13 Mirror Protocol mAssets as securities, mirroring the prices of popular assets like Apple, Amazon, Alibaba, Google, Microsoft, and more.
Conclusion:
The SEC’s ongoing categorization of cryptocurrencies as securities extends its regulatory authority and impacts a substantial segment of the crypto market. With 61 cryptocurrencies now classified as securities, including Binance and notable tokens like XRP, the landscape of digital assets is subject to heightened regulatory scrutiny.
The original story can be found at cointelegraph.com.
