Security Exchange Commission in the United States has termed crypto coins like ADA, MATIC, and SOL. This is the main argument behind the recent lawsuits against Binance US. Since SEC termed certain coins securities, Robinhood, one of the popular trading and investment platforms hs removed MATIC, SOL, and ADA from its asset list. Do you think crypto coins are actually securities?
Are Crypto Securities
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The American government and the SEC are currently unfriendly to crypto, perhaps they have malicious intent to destroy crypto by labeling a lot of crypto as securities. The impact of the SEC statement sent the crypto market down.
The US government, or SEC uses Howey's theory, whereby crypto is used as an investment instrument in the hope that investors will get capital gains in the future, or from the results of running a business. Bitcoin is not considered as a security because Bitcoin can replace fiat money like USD, YEN, EURO etc.
This makes it the safest investment in cryptocurrency thus. Also, it means that almost all coins can somewhat fit the definition of securities according to laymen like me.
The SEC already has jurisdiction to monitor all types of crypto transactions, except Bitcoin spot transactions and actual buying or selling of goods with crypto. Many cryptos are made by companies like BNB by Binance, XRP by Ripple so it's like a company issuing shares.
I think that right now there is an open war against cryptocurrencies in American territory, and this is just one of the strategies they are carrying out, honestly I only hope that the 2024 elections in the US are won by the Republicans, at least they are more lax in terms of regulations and deal better with technological advances.
Well the fight from the US government and SEC it's just against crypto they try all they can to bring down the value and popularity of cryptocurrency against its dollar just three or four days ago the judges overruled the lawsuit filed against binance.us.
