SEC ‘regrets any confusion’ from dubbing tokens as securities: filing
The retraction arose from the SEC’s lawsuit against Binance, but the agency is still pursuing claims against the crypto exchange for alleged securities law violations.
According to a footnote in a Sept. 12 court filing, the United States Securities and Exchange Commission has retracted its longstanding characterization of cryptocurrencies as “securities” and intends to use more careful language in the future.
The retraction arose from the SEC’s ongoing lawsuit against crypto exchange Binance for allegedly offering and selling unregistered securities. In a 2023 complaint, the SEC identified 10 crypto assets on the Binance platform as “securities,” including the native tokens of Solana (SOL), Cardano (ADA) and Polygon (MATIC).
The SEC “regrets any confusion” caused by its characterization of these tokens as “crypto asset securities” and “no longer uses the shorthand term,” according to the Sept. 12 filing.
The retraction arose from the SEC’s lawsuit against Binance, but the agency is still pursuing claims against the crypto exchange for alleged securities law violations.
According to a footnote in a Sept. 12 court filing, the United States Securities and Exchange Commission has retracted its longstanding characterization of cryptocurrencies as “securities” and intends to use more careful language in the future. The retraction arose from the SEC’s ongoing lawsuit against crypto exchange Binance for allegedly offering and selling unregistered securities. In a 2023 complaint, the SEC identified 10 crypto assets on the Binance platform as “securities,” including the native tokens of Solana (SOL), Cardano (ADA) and Polygon (MATIC). The SEC “regrets any confusion” caused by its characterization of these tokens as “crypto asset securities” and “no longer uses the shorthand term,” according to the Sept. 12 filing.Read more