The United States Securities and Exchange Commission (SEC) has included additional tokens in its securities classification in the Binance lawsuit. Some of the crypto assets include Axie Infinity (AXS), Filecoin (FIL) Decentraland (MANA), etc. The Commission continues its regulatory onslaught on the crypto market citing investor protection.
SEC Includes More Tokens As Securities
The SEC has expanded the list of crypto tokens it viewed as securities in the Binance lawsuit. In a recent filing, the financial regulator included AXS, ATOM, FIL, MANA and SAND. The SEC alleges that Binance offers trading services to these unregistered securities against the rules.
“If Defendants are correct, no resales of “investment contracts” could ever satisfy the Howey test, even if nothing has changed about the economic realities of these transactions. It would erase the term “investment contract” in the context of the Exchange Act, even though the Act’s focus is precisely on transactions
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