Charging the world's two largest exchanges—Coinbase and Binance—poses a question of what makes a digital asset a security following the SEC's refusal to make a similar move against BTC and ETH.
The U.S. Securities and Exchange Commission (SEC) filed 13 charges against Cayman-registered Binance Holdings Ltd, Delaware-registered BAM Trading Services—which operates the U.S.-facing Binance.US digital assets exchange—and Changpeng Zhao.
The U.S. Securities and Exchange Commission and Ripple have exchanged filings over one of Ripple’s most prominent defenses against accusations it illegally offered unregistered securities in connection with XRP.
As per the legal opinion of both the chairman of the Securities and Exchange Commission and the New York Attorney General, Ethereum, and most other tokens sold via ICO, are unregistered securities.
To be classified as a security, the "investment," the "efforts," and the "third party" identified in the Howey test should not be completely unrelated to any interest in the "common enterprise."
Gary Gensler recently gave an interview to the New York Magazine in which he had some revealing things to say about Bitcoin and its knockoffs, and in particular whether or not they are securities.
Liberty begins with personal responsibility leading to a culture of responsibility—have we seen this in the blockchain space? No, not by a long mile, Bitcoin Historian Kurt Wuckert Jr. writes.
A U.S. District Court finds the NBA Top Shot Moments NFTs have elements of being security based on the Howey test, thereby violating the securities laws, a ruling slammed by Dapper Labs.
The 'crypto' industry got in the wrong direction long ago and has gone too far by turning the original Bitcoin into a multitrillion-dollar gambling of speculations over other people's speculations.
LBRY lost its battle against the SEC following a federal judge's ruling that the LBC tokens are securities, sending a signal that Ripple may likely face the same fate.
Most crypto assets (coins or tokens) are securities, and illegal ones at that, as they meet the Howey test and have not been issued/distributed in compliance with the securities law.