Which Altcoins Will Survive SEC Action? Bitcoin OG Explains

According to bitcoin OG and educator Dan Held, proof-of-work coins that had a fair distribution at the time of their launch are the most likely to avoid being labeled as securities by the US SEC.

Last week, the SEC sued Binance and Coinbase, accusing them of offering several altcoins as unregistered securities. As a result, many of the coins mentioned in the lawsuit were delisted by major trading platforms, causing their prices to soar.

According to Held, tokens that “had a fair or transparent launch,” such as Litecoin, Dogecoin, and Monero, do not match the definition of a security that the SEC is following and are therefore likely to escape the current crackdown.

Related: SEC Charges Against Binance and Coinbase Are Terrible for DeFi

“It certainly seems like the SEC has made this something they will not pursue,” he said in an exclusive interview with Cointelegraph.

According to Held, most of the tokens classified as securities by the SEC in its lawsuit against Coinbase and Binance were proof-of-stake coins, or tokens that had a pre-mined distribution, meaning they had more centralized ownership. Is.

As Held also pointed out, the current action is primarily taken by a single government entity, the SEC, meaning that the level of pressure on the industry is still far from reaching its maximum level.

Held also said that only bitcoin and a few other cryptocurrencies that are decentralized enough will survive in the long run, as they are the only ones that can survive an all-out attack from governments.

To learn which cryptos may resist the ongoing SEC crackdown, watch full video on our YouTube channel, and don’t forget to subscribe!