As the SEC continues to increase its pressure against the crypto industry, it has sued the world's two largest cryptocurrency exchanges, Binance and Coinbase, two days in a row.
Alleging that exchanges violated securities laws in this case, the SEC argued that some altcoins are also securities.
Solana (SOL), Cardano (ADA), Polygon (MATIC), Filecoin (FIL), Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Algorand (ALGO), Axie Infinity (AXS), in the SEC Binance lawsuit, He said that CoTI (COTI), Binance coin (BNB) and BUSD are securities.
In the Coinbase case, Solana (SOL), Cardano (ADA), Polygon (MATIC), Filecoin (FIL), The Sandbox (SAND), Decentraland (MANA), Algorand (ALGO), and Axie Infinity (AXS) are partners in the Coinbase case. He argued that apart from altcoins, Chiliz (CHZ), Near Protocol (NEAR), Hashflow (FLOW), Internet Computer (ICP), Voyager Token (VGX), Dash (DASH) and NEXO are also securities.
While the SEC was counting some altcoin names, a post about these altcoins came from DCG founder Barry Silbert.
Silbert responded to The Block editor Frank Chaparro's post about which altcoins the SEC considers as securities listed on Coinbase.
In his post, Silbert stated that POW tokens such as Bitcoin (BTC), Litecoin (LTC), Monero (XMR), Ethereum Classic (ETC) and Zcash (ZEC) are not included in any SEC lawsuits.
“None of the SEC cases have BTC, LTC, XMR, ETC, ZEC, etc. Proof of Work tokens.”
no Proof of Work tokens in any of the lawsuits, I believe (BTC, LTC, XMR, ETC, ZEC, etc.)
— Barry Silbert (@BarrySilbert) June 6, 2023
*Not investment advice.
