Home Market news SEC Claims 6 New Cryptocurrencies As Unregistered Securities

SEC Claims 6 New Cryptocurrencies As Unregistered Securities

  • The SEC vs Coinbase lawsuit alleged 6 new cryptocurrencies as unregistered securities.
  • Five high-cap altcoins SOL, ADA, MATIC and SAND are targets in both lawsuits.

The U.S. Securities and Exchange Commission (SEC) swiftly initiated the crypto crackdown trapping the top crypto behemoths, Binance and Coinbase, in succession. The charges leveled allege that 67 cryptocurrencies offered by them and other industry players qualify as ‘unregistered securities.’

67 Cryptocurrencies Tagged As “Securities”

Recently, in the current lawsuit, the regulator added five more cryptocurrencies to the list — Chiliz (CHZ), Flow (FLOW), Internet Computer (ICP), Voyager Token (VGX), NEAR Protocol (NEAR), and Nexo (NEXO). 

SEC vs Binance and Coinbase

To highlight, in both the suits — SEC vs Binance and SEC vs. Coinbase — Solana (SOL), Cardano (ADA), Polygon (MATIC), and The Sandbox (SAND) are summoned as unregistered securities.

The following cryptocurrencies with higher market capitalization also feature on the list: Cosmos (ATOM), Binance’s BNB and BUSD, Algorand (ALGO), Dash (DASH), Tron (TRX), Filecoin (FIL), Decentraland (MANA), Axie Infinity (AXS), Toncoin (TON), BitTorrent (BTT), COTI (COTI).

The unregistered securities allegations extend to several other low-cap cryptocurrencies such as OmiseGo (OMG), Monolith (TKN), IHT Real Estate (IHT), Naga (NGC), DerivaDAO (DDX), Kin (KIN), Salt Lending (SALT), Beaxy Token (BXY), DragonChain (DRGN), Mango (MNGO), Ducat (DUCAT), Locke (LOCKE), EthereumMax (EMAX), Hydro (HYDRO), Meta 1 Coin (META1), Paragon (PRG), and AirToken (AIR).

SEC vs Ripple, LBRY, Bittrex and Terra

Lawsuits in the past — with Ripple, LBRY and Bittrex — alleged XRP, LBRY Credits (LBC), Amp (AMP), Rally (RLY), Rari Governance Token (RGT),  XYO Network (XYO), Liechtenstein Cryptoasset Exchange (LCX), Power Ledger (POWR), DFX Finance (DFX) and Kromatica (KROM).

Notably, the suit with Terraform Labs wired in three coins of the Terra ecosystem to the list — Terra Classic (LUNC), Terra Classic USD (USTC), and LUNA. Moreover, Do Kwon-linked Mirror protocol’s native coin, MIR, and its 13 mAssets — from Mirrored Apple Inc. (mAAPL), Mirrored Tesla, Inc. (mTSLA), Mirrored Twitter Inc. (mTWTR), Mirrored United States Oil Fund, LP (mUSO) and others  — are also included.

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