What does the SEC really want by shaking Binance? The collapse of the crypto industry or the regulation of it? Many see the recent initiatives of Gary Gensler and his team as the development ofa visceral hatred towards the crypto-sphere. Because in addition to the largest exchange in the world, they have also decided to attack 10 tokens traded on the secondary market like Cardano’s ADA.
ADA, a “security” in the eyes of the SEC
The news of a attack on Binance and CZ was falling like lightning in the crypto community yesterday. Among the charges put forward by the SEC is the ease of access granted to Americans wishing to trade on Binance.com.
But according to the information reported by The Crypto Basic, the American financial policeman has greatly extended its targets. The crypto media has indeed pointed out that the SEC also went after 10 tokens considered “unregistered securities”.
« 1/In Brief: The SEC Sues Binance
Title: The SEC’s complaint identifies 10 tokens that it considers to be unregistered crypto-asset securities.
The list of targets includes some of the biggest names in crypto:
$SOL, $ADA, $MATIC, $FIL, $ATOM, $SAN, $MANA, $ALGO, $AXS and $COTI.
And more… »
” 2/ The SEC also claims that Binance issued unregistered securities $BNB and $BUSD.
The SEC considers that the 10 identified TOKENS traded on the secondary market are themselves securities.
I will soon come back to the main points to remember from this 136-page complaint. »
” This is an attack on the whole industry “, laments CZ.
It should also be noted that the United States Securities and Exchange Commission has specified that the ADA was sold by IOHK between 2015 and 2017. Thanks to the sale of this title, the company of Charles Hoskinson was able to obtain the sum of $62 million.
General outrage in the community
It is clear that Hoskinson, the man who was used to playing the lawyer for the SEC in the Ripple case, has finally changed his mind. Thus, as soon as he apprehended the attack against Binance and its ADA token, he published a long tweet which can be summed up in one denunciation of a desire to control our lives by the government and a call for unity against “authoritarianism”.
” Regarding Binance, I am reading the SEC complaint. It’s over 130 pages, but appears to be the next step in a series of steps to implement chokepoint 2.0 in the United States. The end goal is a calendar-based CBDC, partnered with a handful of massive banks, and end-to-end control over every aspect of your financial life. »
A “1984” type scenario is to be feared according to the rather unifying boss of Input Output HK.
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