SEC List of Crypto Securities in SEC Lawsuits Against Binance

Last updated: 2023-06-09

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Abstract：

Both Binance and Coinbase are being sued by the SEC on allegations that they violated regulations and operated as unlicensed brokers.
Concerns over Wall Street’s future dominance and the designation of some cryptocurrencies as securities have been sparked by the measures.
The legal campaign represents a sea change in the crypto industry’s regulatory climate, bringing into sharp focus the necessity for a transparent, cutting-edge, and all-encompassing regulatory framework.

The extraordinary lawsuits filed by the U.S. Securities and Exchange Commission (SEC) against cryptocurrency exchanges Binance and Coinbase have caused waves in the cryptocurrency market. From serious regulatory infractions to charges of dishonesty and lack of disclosure, the accusations levelled against these big exchanges have far-reaching consequences.

The recent increase in regulatory attention is an important turning point, and it has renewed debate about whether or not some cryptocurrencies should be considered securities.

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SEC Sues Binance and Coinbase

The SEC has called out Binance, the leading cryptocurrency exchange worldwide, and its founder, Changpeng Zhao, for a number of regulatory violations. Binance has been accused of mixing user funds to the tune of billions of dollars.

It is also claimed that Binance has undermined its own regulations in order to attract wealthy US traders to its unregulated global exchange platform.

At the same time, the SEC has filed a complaint against Coinbase, alleging that it is acting as an unlicensed broker and exchange. Coinbase’s premier brokerage, exchange, and staking programs are being investigated for possible violations of securities laws, according to the regulatory authority.

Numerous discussions and arguments have taken place in the cryptocurrency community as a result of the two lawsuits filed against Binance and Coinbase. There has been widespread speculation that the regulatory body plans to shut down cryptocurrency exchanges, allowing Wall Street to flood the market and take control.

The regulatory compliance in the crypto market is becoming increasingly important while the fate of these crypto exchanges is in doubt.

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SEC Lawsuits Identify Cryptocurrencies as Securities

In its actions against Binance and Coinbase, the SEC particularly names 19 cryptocurrencies as securities. The full catalogue of tokens the SEC has classified as securities is provided here.

These coins were classified as securities by the SEC in its case against Binance.

Cosmos (ATOM)
Binance Coin (BNB)
Binance USD (BUSD)
COTI (COTI)

These cryptocurrencies, meantime, were labelled securities in the SEC case against Coinbase:

Dash (DASH)
Nexo (NEXO)
Chiliz (CHZ)
Near (NEAR)
Flow (FLOW)
Internet Computer (ICP)
Voyager Token (VGX)

Lastly, these tokens, which were traded on both Binance and Coinbase, were also labelled as securities:

The Sandbox (SAND)
Decentraland (MANA)
Algorand (ALGO)
Axie Infinity (AXS)
Solana (SOL)
Cardano (ADA)
Polygon (MATIC)
Filecoin (FIL)

Ethereum (ETH) stands out as a notable exception to these listings.

If these tokens are legally considered securities, they will likely be banned from trading on U.S. exchanges. A precedent of this like would be quite concerning, since it would pose significant regulatory issues for the crypto industry, and for token holders and developers in particular.

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The SEC’s Complete List of Crypto Securities

The SEC has included 67 different cryptocurrencies on its list of purported securities, in addition to the allegations against Binance and Coinbase. Over $100 billion, or about 10% of the overall crypto market capitalization, is represented by tokens classified as securities, each of which is subject to separate regulations and criteria.

Some of the most well-known digital currencies that the SEC has previously classified as securities are:

Polygon (MATIC)
Cosmos (ATOM)
The Sandbox (SAND)
Decentraland (MANA)
Axie Infinity (AXS)
COTI (COTI)
Paragon (PRG)
AirToken (AIR)
Chiliz (CHZ)
Flow (FLOW)
Internet Computer (ICP)
Near (NEAR)
Voyager Token (VGX)
Nexo (NEXO)
Mirrored Apple Inc. (mAAPL)
Mirrored Amazon.com, Inc. (mAMZN)
Mirrored Alibaba Group Holding Limited (mBABA)
Mirrored Alphabet Inc. (mGOOGL)
Mirrored Microsoft Corporation (mMSFT)
Mirrored Netflix, Inc. (mNFLX)
Mirrored Tesla, Inc. (mTSLA)
Mirrored Twitter Inc. (mTWTR)
Mirrored iShares Gold Trust (mIAU)
Mirrored Invesco QQQ Trust (mQQQ)
Mirrored iShares Silver Trust (mSLV)
Mirrored United States Oil Fund, LP (mUSO),
Mirrored ProShares VIX Short-Term Futures ETF (mVIXY)
Ripple (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)
Binance Coin (BNB)
Binance USD (BUSD)
Solana (SOL)
Cardano (ADA)

Chairman of the Securities and Exchange Commission Gary Gensler has hinted at a broad scope, saying that in his opinion, “everything other than Bitcoin” might potentially fall under the agency’s jurisdiction as a security. However, not everyone shares this view, and the chorus of those demanding more regulation clarity is growing louder.

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The Critical Moment for Cryptocurrency Lawmaking

As lawsuits are filed against Binance and Coinbase, the cryptocurrency sector is at a crossroads. In addition, as these proceedings go, they are likely to establish new precedents and influence future legislation.

The crypto industry as a whole is waiting on the verdict, expecting it to have far-reaching consequences for their business.

With the SEC’s broad litigation, the need for transparent, cutting-edge, and all-encompassing regulatory frameworks has never been greater. The regulations governing the industry need to keep up with its rapid development to prevent stifling innovation while yet protecting the rights of investors.

This new chapter in the history of cryptography highlights the critical need for a legal and technological handshake, and it sets the stage for what should be an exciting fight.

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