The U.S. Securities and Exchange Commission (SEC) has recently broadened its legal action against Binance, a prominent cryptocurrency exchange. The SEC has extended its allegations to include several additional digital assets that are now classified as securities.
According to the latest regulatory filing, the SEC has identified more tokens as securities, such as Axie Infinity (AXS), Filecoin (FIL), and Cosmos (ATOM).
Among the other tokens impacted by this update are The Sandbox (SAND) and Decentraland (MANA).
The SEC’s claim asserts that Binance and BAM Trading were involved in facilitating the trading of these securities, which are now considered unregistered securities. The filing also states that Binance actively promoted these tokens to users, highlighting their potential for investment returns, thereby increasing their legal responsibility.
The SEC stated, “Binance and BAM Trading are saturating these markets with information by circulating and amplifying their issuer and supporting statements, effectively positioning the tokens as lucrative investment prospects.”
Today, the SEC has been granted permission to file an updated complaint against Binance and Zhao.
*Please note that this article does not constitute investment advice.