The SEC recently sued cryptocurrency exchanges Binance and Coinbase, declaring a large number of altcoins unregistered securities.
This isn't the first time the SEC has defined cryptocurrencies as securities. In addition, SEC chairman Gary Gensler previously claimed that many cryptocurrencies other than Bitcoin are unregistered securities.
So which altcoins has the regulator defined as securities so far? Here is the list with dates:
- 2023 June: SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, NEXO, BNB, ATOM, MANA, ALGO, COTI
- 2023 April: OMG, NGC, TKN, NGC, IHT
- 2023 March: BXY, BTT, TRX
- February 2023: BUSD, LUNA, MIR, UST
- 2023 January: MNGO
- 2022 December: FTT
- 2022 August: DRGN
- July 2022: AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, CHROME
- 2022 June: mAAPL, mAMZN, mBABA, mGOOGL, mNFLX, mTSLA, mTWTR, mIAU, mQQQ, mSLV, mUSO, mVIXY, mMSFT
- 2021 November: LOCKE, DUCAT
- September 2021: RVT
- December 2020: XRP
- March 2020: META1
- February 2019: GLA
The fact that a cryptocurrency is considered a security means it is subject to the same regulations and laws as other securities such as stocks and bonds.
A security is a financial instrument that represents an ownership interest or debt obligation in a company or an asset. The SEC has a test called the Howey test to determine whether a crypto asset is a security. This test asks whether the asset involves investing money in a joint venture with the expectation of profiting from the efforts of others. If the answer is yes, the asset is likely a security and must comply with the SEC's rules.
*Not investment advice.
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The sec can go fuck themselves how bout they concentrate in there dying dollar and economy