SEC’s Regulatory Net Now Covers $120 Billion of Crypto After Coinbase, Binance Action
- Lawsuits expand list of tokens seen as unregistered securities
- Tokens held losses as regulatory crackdown unnerves investors
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The list of digital tokens deemed as unregistered securities by the Securities and Exchange Commission now spans over $120 billion of crypto after the US agency’s lawsuits against Binance Holdings Ltd. and Coinbase Global Inc.
The regulator in the complaints against Binance and Coinbase cited more than a dozen major coins as assets that fall under its purview. Such a designation comes with strict investor protection rules and could make the tokens harder to trade if exchanges shy away from listing them for fear of falling foul of the SEC.