October 1, 2023

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61 cryptocurrencies are now considered securities by the Securities and Exchange Commission

The total number of cryptocurrencies that the US securities regulator has accused of being a “security” has reached nearly 61, after adding a few more lawsuits against cryptocurrency trading platform Binance.

The 61 cryptocurrencies accused of being “securities” comes from years of various lawsuits by the Securities and Exchange Commission, which has determined which cryptocurrencies are considered securities.

In the latest case against Binance, the SEC included 10 cryptocurrencies in its securities classification: BNB (BNB), Binance USD (BUSD), Solana (SOL), Cardano (ADA), Polygon (MATIC), Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Axie Infinity (AXS), and COTI (COTI).

Other notable cryptocurrencies 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 charged Bittrex in April.

The largest one-off cryptocurrency haul ever conducted by the SEC came when it accused Terraform Labs of fraud in February. A total of 16 crypto assets are rated on the stock, including Terra Luna Classic (LUNC), Terra Classic USD (USTC), Mirror Protocol (MIR), and estimated 13 inverse assets (mAssets) aiming to copy stock prices such as Apple and Tesla.

Related: Fines and Regulations: The ever-growing landscape of cryptocurrency compliance

The SEC’s jurisdiction over crypto means it now covers more than $100 billion of the market, or about 10% of the total $1.09 trillion cryptocurrency market cap.

However, SEC Chairman Gary Gensler He claimed that “everything other than Bitcoin” is a security that falls under the agency’s purview. Crypto data site CoinMarketCap lists About 25,500 cryptocurrencies in existence.

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Cryptocurrency “securities” that the Securities and Exchange Commission (SEC) considers

The SEC has now declared these 48 tokens to be securities: XRP (XRP), Telegram’s 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 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), Sandbox (SAND), Decentraland (MANA), Axie Infinity (AXS), COTI (COTI), Paragon (PRG), AirToken (AIR).

In addition, these 13 Mirror Protocol assets have been deemed by the SEC to be securities: Mirrored Apple Inc. (mAAPL), Mirrored Amazon.com, Inc. (mAMZN), Mirrored Alibaba Group Holding Limited (mBABA), Mirrored Alphabet Inc. (mGOOGL), Mirrored Microsoft Corporation (mMSFT), and Mirrored Netflix, Inc. (mNFLX) and Mirrored Tesla, Inc. (mTSLA) and Mirrored Twitter Inc. (mTWTR), Mirrored Gold Trust (mIAU), Mirrored Invesco QQQ Trust (mQQQ), iShares Silver Mirrored Fund (mSLV), United States Oil Matched Fund, LP (mUSO), ProShares VIX Short-Term Futures Fund (mVIXY).

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