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Author: Jamie Crawley
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Author: Lyllah Ledesma
The SEC reiterated its stance that well-known crypto assets, including solana, cardano and polygon, are securities under U.S. law in a lawsuit against Coinbase — while adding further tokens to the list as well.
The developments come a day after the SEC filed a lawsuit against Binance. The agency repeated claims from yesterday’s lawsuit against Binance that solana (SOL), cardano (ADA), polygon (MATIC), filecoin (FIL), sandbox (SAND) and axie infinity (AXS) are securities.
In this filing, the agency also included tokens that weren’t mentioned in the Binance lawsuit. These were: chiliz (CHZ), flow (FLOW), internet computer (ICP), near (NEAR), voyager token (VGX), dash (DASH) and nexo (NEXO).
Flow is the native token of Dapper Labs’ blockchain. The SEC previously named dash as a security in a lawsuit against crypto exchange Bittrex.
The SEC previously listed nine tokens as securities in its insider trading case against a former Coinbase employee. It also claimed multiple tokens related to luna were also securities in its complaint against Terraform Labs and Do Kwon.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Tim Copeland
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Author: Jack Schickler
The United States Securities and Exchange Commission announced it was suing Coinbase. The exchange’s shares immediately sank by more than 15% in pre-trading.
The news dropped less than 24 hours after the SEC also announced it was suing Binance, alleging the world’s largest crypto trading platform and affiliated companies misled customers and misdirected funds to a separate investment fund owned by the company’s CEO, Changpeng ‘CZ’ Zhao.
After the news, Coinbase’s shares were down as much as 12% on Monday. The U.S.-based company trades on the Nasdaq.
This story is developing.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: RT Watson
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Author: Nikhilesh De
The United States Securities and Exchange Commission has struck again — this time suing Coinbase — one day after filing a lawsuit against exchange rival Binance.
The regulator alleges that Coinbase violated securities laws.
It also named several tokens as securities in the lawsuit. Those tokens include SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO.
This is a breaking story and will be updated.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Yogita Khatri
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Author: Lyllah Ledesma
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Author: Lyllah Ledesma