{"id":137208,"date":"2024-09-14T11:00:10","date_gmt":"2024-09-14T08:00:10","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=137208"},"modified":"2024-09-14T01:38:06","modified_gmt":"2024-09-13T22:38:06","slug":"sec-backpedals-on-crypto-asset-securities-term-in-binance-case","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/sec-backpedals-on-crypto-asset-securities-term-in-binance-case\/","title":{"rendered":"SEC Backpedals on ‘Crypto Asset Securities’ Term in Binance Case"},"content":{"rendered":"

In a surprising twist<\/a> <\/strong>amid its ongoing legal action against Binance, the SEC has explained in a footnote of its revised complaint that its use of the term \u201ccrypto asset securities\u201d refers to the broader framework of contracts, expectations, and agreements related to these tokens, rather than the tokens themselves. The agency described the term as simply an \u201cacronym\u201d and not indicative of the tokens being securities.<\/p>\n

To prevent further confusion, the SEC has decided to discontinue using the term in its lawsuit against Binance and has expressed regret for any misunderstandings.<\/p>\n

The crypto community has reacted with skepticism to the SEC\u2019s statement. Jake Chervinsky, Chief Legal Officer at Variant Fund, expressed disbelief at what he views as extreme manipulation on X (formerly Twitter).<\/p>\n