Binance Lawsuit: SEC Now Considers 61 Cryptocurrencies as Securities ByNemo KimaniPRO INVESTOR Updated: 07 June 2023 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Join Our Telegram channel to stay up to date on breaking news coverage The United States securities regulator has labelled 61 cryptocurrencies as “securities,” with the addition of several more from its lawsuit against crypto exchange Binance. Cryptocurrencies Considered Securities by SEC Over the years, the Securities and Exchange Commission (SEC) has engaged in various litigation, identifying the cryptocurrencies it deems as securities. In its recent case against Binance, the SEC classified 10 cryptocurrencies as securities. These include: BNB (ticker down to $279) Binance USD (BUSD ticker down to $1.00) Solana (SOL, ticker down to $20) Cardano (ADA, ticker down to $0.354) Polygon (MATIC, ticker down to $0.8271) Cosmos (ATOM, ticker down to $10.00) The Sandbox (SAND, ticker down to $0.52) Decentraland (MANA, ticker down to $0.45) Axie Infinity (AXS, ticker down to $6.63) COTI (COTI). The SEC has also considered Ripple’s XRP and LBRY’s LBRY Credits (LBC) as securities, although not for secondary sales. Algorand (ALGO) was also named alongside five other cryptocurrencies when the SEC charged Bittrex in April. In February, the SEC charged Terraform Labs with fraud and labeled 16 crypto assets as securities. 🚨Breaking News🚨 ➡️#Binance lawsuit: 61 #cryptocurrencies are now seen as securities by the SEC🔐 A thread 🧵 pic.twitter.com/qrYxEJbRuc — Pushpendra Singh Digital (@PushpendraTech) June 6, 2023 These assets include Terra Luna Classic (LUNC), Terra Classic USD (USTC), Mirror Protocol (MIR), and approximately 13 Mirrored Assets (mAssets) that aimed to replicate the price of stocks such as Apple and Tesla. SEC Claims Jurisdiction of Over $100B Crypto Market, Excluding Bitcoin, Deemed Securities The SEC’s litigated remit of the crypto space now encompasses over $100 billion worth of the market, representing approximately 10% of the total crypto market capitalization of $1.09 trillion. SEC Chair Gary Gensler asserts that “everything other than Bitcoin” falls under the agency’s jurisdiction as a security. CoinMarketCap, a crypto data site, lists around 25,500 cryptocurrencies. The SEC has officially designated the following 48 crypto tokens as securities: XRP, Telegram’s Gram (TON), LBRY Credits (LBC), OmiseGo (OMG), 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), and AirToken (AIR). Furthermore, the SEC has determined that these 13 Mirror Protocol mAssets are securities: 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) What does this mean for crypto enthusiasts? If these cryptocurrencies are deemed securities, they must comply with securities laws, including SEC registration and detailed financial disclosures. Failure to comply may result in legal action, hefty fines, and potential trading limitations. More News Ethereum Has Outlived Its Usefulness. The Smart Money Is In This Crypto Coin Major Data Breach Exposes BA, BBC and Boots to File Transfer Hack: What You Need to Know Changpeng Zhao and Justin Sun Team Up to Handle the SEC Lawsuit BNB Price Prediction As SEC Sues Binance – $200 Incoming Or Buy The Dip? New Crypto Mining Platform - Bitcoin Minetrix Rating Audited By Coinsult Decentralized, Secure Cloud Mining Earn Free Bitcoin Daily Native Token On Presale Now - BTCMTX Staking Rewards - Over 100% APY Learn More Join Our Telegram channel to stay up to date on breaking news coverage