Photo: Chinnapong via Adobe Stock SEC Says Farewell to the Term 'Crypto Asset Securities'
"It's just the evolution where there were way too many scams by crypto folks that lead to the SEC's aggressive overreach and regulation enforcement, that you have a pendulum that goes one way and the other way and now it is maybe slowing down a bit," said Terrence Yang, a strategic advisor to Swan Bitcoin.
September 13, 2024 at 05:52 PM
3 minute read
Cryptocurrency
The original version of this story was published on New York Law Journal
What You Need to Know
- The Securities and Exchange Commission filed a motion for an amended lawsuit late Thursday.
- The SEC, in the sixth footnote in the 41-page motion, said it will no longer use the term "crypto asset securities."
- Legal experts provided their reaction to the SEC's acknowledgment.
In a controversial move, the U.S. Securities and Exchange Commission conceded in its motion for an amended lawsuit filed against Binance in a Washington, D.C., federal district court that the term "crypto asset securities" does not refer to the "crypto asset itself as the security."
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