The lawsuit filed by the United States
Cryptocurrency Regulatory Commission against the renowned Bittrex, #Binance and #Coinbase platforms has put these 55 cryptocurrencies in the spotlight.
The legal action taken by the United States
Cryptocurrency Regulatory Commission (#CRC )
against Bittrex, Binance and Coinbase has generated a stir around a total of 55 cryptocurrencies that are considered securities.
The #Cryptorank portal has published a watch list of cryptocurrencies that could be classified as securities by the United States Cryptocurrency
Regulatory Commission, including not only those mentioned in the current lawsuits, but also others such as Ripple, Ton or FTX, which have been included in this category at different times.
Las 55 criptomonedas incluidas en la lista son:
BNB (Binance Coin), XRP (Ripple), ADA (Cardano),
TRX (Tron), MATIC (Polygon), SOL (Solana), BUSD
(Binance USD), ATOM (Cosmos), TON (Toncoin), NEAR (Near Protocol), ALGO (Algorand), SAND
(The Sandbox), MANA (Decentraland), AXS (Axie
Infinity), LUNC (Terra Classic), FIL (Filecoin), ICP
(Internet Computer), BTT (Bit Torrent), FLOW
(Flow), Chiliz (CHZ), NEXO (Nexo), DASH (Dash), LUNA (Terra), USTC (Terra Classic USD), AMP
(Amp).
Also included in the list are OMG (OMG Network),
POWR (Power Ledger), COTI (COTI), XYO (Xyo),
RLY (Rally), LCX (Lcx), VGX (Voyager Token),
MNGO (Mango) and KIN (Kin), NGC (Naga), DDX
(DerivaDAO), LBC (LBRY Credits), MIR (Mirror
Protocol, RGT (Rare Governance), TKN (Monolith),
KROM (Chromatics), DRGN (Dragonchain), SALT
(SALT) , DEX (DFX Finance), IHT (IHT Real Estate
Protocol), HYDRO (Hydro), AIR (AirToken), PRG
(Paragon), FTT (FTX Token), EMAX
(EthereumMAx).
The reactions have not been long in coming and chains such as Solana, Polygon, Dash and Cardano have come out in defense of their status against this possible consideration.
Polygon, through its Twitter account, has expressed its disagreement with the SEC's flagging of Polygon as a security, emphasizing the importance of the market outside the United States and appreciating international regulatory efforts.
Similarly, Solana has issued a statement on Twitter rejecting SOL's classification as a security, highlighting the importance of working with lawmakers to achieve legal clarity and supporting entrepreneurs in the digital asset space.
Dash, since April of this year when the process against Bittrex began, has defended its position as peer-to-peer digital cash, financial sovereignty and decentralized governance, rejecting the idea that it is considered an investment.
Cardano has expressed disagreement with the way the SEC referred to ADA, explaining that its
ICO was conducted as a coupon method targeting the Japanese market, excluding American participation and using the dollar as a form of payment.
Regarding the effects on the market, Cryptorank has created a watch list with all the
cryptocurrencies involved in the SEC proceedings.
In the last 30 days, all cryptocurrencies have experienced negative performance, with losses exceeding 15%, leading to widespread bearish sentiment in the market.
Platforms such as Toro have announced the suspension of transactions with these cryptocurrencies in response to the demands of the SEC. However, they have reaffirmed their support for crypto assets and their commitment to working with regulators to promote access to various asset classes.
Robinhood has also been vocal about its belief in the future of cryptocurrencies and its advocacy for greater regulatory clarity to allow clients to participate in the market with greater confidence.
In the DeFi arena, a similar impact has been observed. Since April 17, 2023, Total Value Locked (TVL) has declined from over $94 billion to around $75.6 billion. These regulatory actions have shaken the market this time around.
In short, 2023 has been a turbulent year for the crypto ecosystem, with challenges related to stablecoins, regulatory changes, and attacks on exchanges. All this has happened in a context in which the US dollar has lost its monopoly as an international currency, incipient inflation and a global economic crisis have been observed, which has led to a greater use of cryptocurrencies as a financial alternative.
