SEC Gets Involved in 5 More Altcoins: Claims They Are Securities

The U.S. Securities and Exchange Commission (SEC) has expanded its lawsuit against cryptocurrency exchange Binance, expanding the scope of its claims to include several more digital assets as securities.

In the latest regulatory filing, the SEC lists additional tokens as securities, including Axie Infinity (AXS), Filecoin (FIL), and Cosmos (ATOM).

Other tokens affected by the update include The Sandbox (SAND) and Decentraland (MANA).

The SEC alleges that both Binance and BAM Trading facilitated the trading of these securities, which are now classified as unregistered securities. According to the filing, Binance promoted these tokens to users by emphasizing their potential for return on investment, further solidifying its liability.

“Binance and BAM Trading are flooding these markets with information by republishing and amplifying their issuer and supporting statements, thereby promoting the tokens as investment opportunities,” the SEC said.

In today’s development, the SEC was allowed to file an amended complaint against Binance and Zhao.

*This is not investment advice.

Source