Binance Lawsuit: 61 Cryptocurrencies Now Seen as Securities by the SEC

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

The 61 cryptocurrencies claimed as securities come from years of various lawsuits filed by the Securities and Exchange Commission (SEC) outlining which cryptocurrencies it considers to be securities.

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

Today we have Binance Holdings Ltd. (Binance) charged; US-based affiliate, BAM Trading Services Inc., which operates in conjunction with Binance https://t.co/swcxioZKVP, and their founder, Changpeng Zhao, with a variety of securities law violations. pic.twitter.com/IWTb7Et86H

– US Securities and Exchange Commission (@SECGov) June 5, 2023

Other notable cryptocurrencies being considered by the SEC are Ripple’s XRP (XRP), LBRY’s LBRY Credits (LBC), though not for secondary sales, and Algorand (ALGO), which it named along with five others when it bittrex charged In April.

The SEC’s one-time lumping of the biggest cryptocurrencies happened when Terraform Labs was accused of fraud in February. A total of 16 crypto assets were labeled securities, including Terra Luna Classic (LUNC), Terra Classic USD (USTC), Mirror Protocol (MIR) and one. estimated 13 mirrored assets (mAssets) that aim to mimic the price of stocks such as Apple and Tesla.

Connected: Fines and Regulation: The Ever-Evolving Landscape of Crypto Compliance

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

However, SEC Chairman Gary Gensler has claimed that “everything but bitcoin” is a security that falls under the agency’s purview. crypto data site CoinMarketCap lists There are approximately 25,500 cryptocurrencies in existence.

SEC-Deemed Crypto ‘Securities’

XRP (XRP), Telegram 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 Loan (SALT), Beexi 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), Decenterland (MANA), Axi Infinity (AXS), COTI (COTI), Paragon (PRG), AirToken (AIR).

Mirror Protocol mAssets: Mirrored Apple Inc. (mAAPL), mirrored by Amazon.com, Inc. (mAMZN), Mirrored Alibaba Group Holding Limited (mBABA), Mirrored Alphabet Inc. Inc. (MNFLX), mirrored Tesla, Inc. (MTSLA), Mirrored Twitter Inc. Oil Fund, LP (MUSO), Mirrored ProShares VIX Short-Term Futures ETF (MVIXY).

magazine: Crypto Regulation – Does SEC Chairman Gary Gensler Have the Final Say?