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Security Shock was grown from Defiant
June started with a major legal battle that will shape the future of cryptocurrencies.
The US Securities and Exchange Commission (SEC) has labeled several crypto assets as securities and is suing Coinbase and Binance for selling unregistered securities. About 68 cryptocurrencies, worth over $100 billion, are affected by this classification.
If crypto is deemed a security, it would mean following the same rules as other securities, requiring crypto exchanges to register with the SEC, and imposing regulations on investors when trading digital assets.
However, US regulators agree that Bitcoin, the largest cryptocurrency, isn't a security. Stating it was created by someone named Satoshi Nakamoto and isn't intended for fundraising purposes.
June 30th, 2023
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