The Ever-Growing List of SEC Crypto Securities
It’s official! The U.S. Securities and Exchange Commission (SEC) has decided to crash the cryptocurrency party by adding more tokens to its notorious “securities” list. Now, a whopping 68 cryptocurrencies have been accused of being securities, thanks to the SEC’s relentless litigation campaign against major players like Coinbase and Binance.
What’s the Latest?
In a recent punchy legal bout with Binance, the SEC added 10 new contenders to its ever-growing list. This includes popular names such as BNB, Solana, and Cardano, to name a few. Of course, Binance isn’t going down without a fight, and neither are these cryptocurrencies.
Coinbase and its Surprising Cast of Cryptos
Meanwhile, in its ongoing crusade against Coinbase, the SEC chose to single out 13 specific cryptocurrencies, effectively reincarnating favorites like Solana and Cardano while adding six new face-palming guests:
- Chiliz (CHZ)
- Flow (FLOW)
- Internet Computer (ICP)
- Near (NEAR)
- Voyager Token (VGX)
- Nexo (NEXO)
Talk about bringing a whole new meaning to the term “cryptocurrency lineup”!
The SEC’s Strategy: A Web of Regulations
It seems the SEC is casting a wide net, covering more than just one fishing hole. This strategy not only affects sentiments across the crypto world but has also brought the total estimated worth of these classified cryptocurrencies to over $100 billion, or around 10% of the entire crypto market. Not bad for a regulatory body that thrives on rules!
Gary Gensler: The Crypto Bouncer
SEC Chair Gary Gensler is like that bouncer at a club who’s overly enthusiastic about checking IDs. According to him, “everything other than Bitcoin” could likely be classified as a security. It’s no wonder he’s ruffling feathers among crypto enthusiasts!
In the Line of Fire: Notable Mentions
Certain cryptocurrencies have become infamous thanks to the SEC’s classification. Here’s a roundup of some notable mentions:
- XRP (XRP)
- Algorand (ALGO)
- Ripple’s XRP (XRP)
This lengthy list serves as a stark warning for crypto investors and enthusiasts alike about the SEC’s formidable power in determining the fate of digital coins.
