Crypto News

Binance lawsuit: 61 cryptocurrencies are now seen as securities by the SEC

Binance lawsuit: 61 cryptocurrencies are now seen as securities by the SEC
© Copyright Image: Crypto Breaking News

The total number of cryptocurrencies the United States securities regulator has accused to be a “security” has now reached an estimated 61, after adding a few more from its lawsuit against crypto exchange Binance.

The 61 cryptocurrencies accused obeing a “security” comes from years of various litigation undertaken by the Securities and Exchange Commission (SEC) which has outlined what cryptocurrencies it deems securities.

In its most recent case against Binance, the SEC introduced 10 cryptocurrencies into the securities classification: BNB (BNB), Binance USD (BUSD), Solana (SOL), Cardano (ADA), Polygon (MATIC), Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Axie Infinity (AXS) and COTI (COTI).

Other notable cryptocurrencies the SEC has deemed securities are Ripple’s XRP (XRP), LBRY’s LBRY Credits (LBC), although not for secondary sales and Algorand (ALGO) which it named alongside five others when it charged Bittrex in April.

The SEC’s largest one-time lumping of cryptocurrencies came when it charged Terraform Labs with fraud in February. A total of 16 crypto assets were labeled securities inclusive of Terra Luna Classic (LUNC), Terra Classic USD (USTC), Mirror Protocol (MIR) and an estimated 13 Mirrored Assets (mAssets) which aimed to copy the price of stocks such as Apple and Tesla.

Related: Fines and regulation: The ever-growing landscape of crypto compliance

The SEC’s litigated remit of the crypto space means it now covers over $100 billion worth of the market or around 10% of the $1.09 trillion total crypto market capitalization.

SEC chair Gary Gensler, however, has claimed “everything other than Bitcoin” is a security that falls under the agency’s remit. Crypto data site CoinMarketCap lists around 25,500 cryptocurrencies in existence.

SEC-deemed crypto ‘securities’

XRP (XRP), Telegram’s Gram (TON), LBRY Credits (LBC), OmiseGo (OMG), DASH (DASH), Algorand (ALGO), 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), AirToken (AIR).

Mirror Protocol mAssets: 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), Mirrored ProShares VIX Short-Term Futures ETF (mVIXY).

Magazine: Crypto regulation — Does SEC Chair Gary Gensler have the final say?

Source: Cointelegraph.com

The post Binance lawsuit: 61 cryptocurrencies are now seen as securities by the SEC appeared first on Crypto Breaking News.

Read more: https://www.cryptobreaking.com/binance-lawsuit-61-cryptocurrencies-are-now-seen-as-securities-by-the-sec/

Text source: Crypto Breaking News

Disclaimer: Financial information and news are not financial advice, read the disclaimer.
Buy & sell Crypto in minutes

Join BINANCE!

The world's largest crypto exchange

You're just steps away from receiving your reward.

The most complete Crypto News Center.

Search Stories:

Latest top stories