The post The SEC intends to introduce the crypto Solana in the Binance case appeared on BitcoinEthereumNews.com.

The Securities and Exchange Commission (SEC) degli Stati Uniti ha annunciato l’intenzione di modificare la denuncia contro Binance per includere specifiche accuse riguardanti crypto di terze parti, come Solana (SOL).  This move represents a further development in the context of the growing regulation of digital assets by the agency. The move by the SEC against Binance and the modification of the accusations towards crypto like Solana The original complaint by the SEC against Binance was filed in June 2023, and contained several allegations of violations of securities and commodities laws. Among the main accusations were the management of an unregistered stock exchange, the failure to implement adequate AML (Anti-Money Laundering) controls, and deceiving investors about the platform’s operations and trading volumes. The complaint focused mainly on Binance and its executives, including the former CEO Changpeng Zhao. The third-party tokens are digital assets issued by companies other than Binance. These tokens, like Solana (SOL), were initially excluded from the SEC’s complaint against Binance.  However, with the increase in regulatory pressure and the growing concern about the nature and use of these tokens, the SEC has decided to delve deeper into the issue and include specific charges regarding these assets in its complaint. The SEC argues that many of these tokens are unregistered securities. A security, according to U.S. law, is any instrument that represents an investment in a common enterprise with the expectation of profit derived from the effort of others.  The SEC has used the Howey test, a criterion established by the United States Supreme Court, to determine if an asset is a security. According to this test, if an investment of money in a common enterprise with the expectation of profit derived from the efforts of others, the asset is considered a security. The importance of registration and the…

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Filed under: News - @ July 30, 2024 5:28 pm