Author: Ezra Reguerra Source: Cointelegraph Translation: Shan Ouba, Golden Finance
The U.S. Securities and Exchange Commission (SEC) no longer requires a court ruling and considers the tokens mentioned in its lawsuit against the cryptocurrency exchange Binance as securities.
On July 30, the SEC filed a response to the court's ruling on July 9, 2024. In the document, the SEC wrote that it seeks to amend the definition of "third-party crypto asset securities" in its complaint opposing Binance's motion to dismiss.
According to the SEC, this eliminates the need to "make a ruling on the adequacy of the current allegations against these tokens." This means that the government agency no longer requires the court to rule whether the affected tokens are securities.
In its lawsuit against Binance, the SEC claimed that several tokens are securities. The list includes BNB, BUSD, Solana, Cardano, Polygon, Cosmos, The Sandbox, Decentraland, Axie Infinity, Coti.
These tokens are just part of a list of tokens that the SEC considers to be securities. In June 2023, the SEC claimed that at least 68 tokens were securities, affecting more than $100 billion worth of cryptocurrencies on the market.
The SEC withdrew its request to issue a ruling after presidential candidates tried to win over pro-cryptocurrency American voters.
On July 27, former President Donald Trump promised to end the war on cryptocurrencies during his campaign. At the Bitcoin 2024 conference in Nashville, Tennessee, Trump said the United States would become the "cryptocurrency capital of the world."
The Republican candidate also said he would fire SEC Chairman Gary Gensler on his first day in office and appoint a presidential advisory committee on cryptocurrencies and Bitcoin. Trump said he would appoint a new chairman to help the United States "build the future, not hinder it."
On the other end of the political spectrum, views on cryptocurrencies are also beginning to shift. On July 27, Democratic members of the U.S. House of Representatives signed a letter calling on the party to take a "forward-looking approach" to blockchain and digital assets.
In response to the letter, advisers to presidential candidate and current Vice President Kamala Harris contacted cryptocurrency companies to repair the party's ties with the cryptocurrency industry.
On June 3, Solana founder Anatoly and Ethereum Foundation researcher Justin mentioned the issue of economic security in a debate. Toly believed that economic security was a meme, which triggered subsequent discussions among many bilateral KOLs.
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