Cryptocurrencies Hit Hardest by SEC Crackdown

The US Securities and Exchange Commission has labelled 19 crypto tokens as securities. Crypto tokens are created by developers for use in DeFi, gaming and other applications. The designation is explicitly laid out in the SEC lawsuits filed against crypto exchanges Binance and Coinbase Global last week. The labeling prompted a sharp selloff in the tokens. The impact was immediate with the combined market value falling $23 billion since the SEC’s lawsuit against Binance was filed on June 5. Furthermore, … Continue reading “Cryptocurrencies Hit Hardest by SEC Crackdown”