🚨SEC's Shifting Stance on Crypto Assets: What's Going On?

The SEC is stirring up confusion by claiming it never meant for "crypto asset securities" to imply that tokens themselves are securities. Despite using the term frequently, the SEC now says it refers to the full context of contracts and sales expectations, not the assets themselves. 🧐😁

👀 In its updated complaint against Binance, the SEC admits its terminology might have caused confusion and vows to stop using it.

Critics, including legal experts and industry leaders, are baffled and accuse the SEC of extreme gaslighting and contradictions. Ripple's lawyers argue that the SEC's stance is "a twisted pretzel of contradictions." 🥨

The SEC’s lawsuit against Binance continues, alleging violations of securities laws and claiming that some crypto assets are investment contracts under the Howey test. 😶‍🌫️