TechFlow news, according to Cointelegraph, the U.S. Securities and Exchange Commission's (SEC) latest lawsuit against Binance has led to at least 61 cryptocurrencies being classified as securities, involving tokens worth $100 billion in the market. This outcome results from various lawsuits the SEC has pursued over the years, clarifying its stance on which cryptocurrencies qualify as securities.
In its most recent case against Binance, the SEC listed 10 cryptocurrencies as securities: BNB, BUSD, Solana (SOL), Cardano (ADA), Polygon (MATIC), Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Axie Infinity (AXS), and COTI (COTI). Other notable cryptocurrencies previously deemed securities include Ripple (XRP), LBRY Credits (LBC), and Algorand (ALGO).
The SEC now covers more than $100 billion of the cryptocurrency market, representing approximately 10% of the total market capitalization of $1.09 trillion.
Previously, SEC Chair Gary Gensler claimed that "all cryptocurrencies except Bitcoin" fall under the agency’s regulatory purview as securities. Cryptocurrency data website CoinMarketCap lists around 25,500 different cryptocurrencies.
