6/07/23: TIME TO GET DECENTRALIZED 67 Cryptocurrencies now labelled as securities by SEC‘s Lawsuits (#Binance and #Coinbase) which is extremely bullish for #Pulsechain, #PulseX and #HEX eco system

According a recent article from VC funds venture capital, dated June 7th, 2023 the SEC has labelled 67 #cryptos as securities.

The United States securities regulator has now accused an estimated 67 cryptocurrencies of being classified as “securities.” This number has increased after the regulator included additional cryptocurrencies in its lawsuits against crypto exchanges Binance and Coinbase. Over the years, the Securities and Exchange Commission (SEC) has engaged in various litigations that have resulted in the identification of these 67 cryptocurrencies as securities, based on its classification criteria. In the recent case against Binance, the SEC introduced 10 cryptocurrencies into the securities classification. These include

In its lawsuit against Coinbase, the SEC named 13 cryptocurrencies, which reinforced the classification of SOL, ADA, MATIC, SAND, and AXS as securities. Additionally, the SEC added six more cryptocurrencies to the list:

The Securities and Exchange Commission (SEC) has identified several notable cryptocurrencies as securities. Ripple’s XRP, LBRY’s LBRY Credits (LBC), and Algorand are among the cryptocurrencies deemed securities by the SEC. It is important to note that LBRY Credits (LBC) is not considered a security for secondary sales. Additionally, when the SEC charged Bittrex in April, Algorand was named alongside five other cryptocurrencies as securities. In February, the SEC charged Terraform Labs with fraud, leading to the classification of 16 crypto assets as securities. These assets include

As a result of its involvement in the crypto space, the SEC now oversees more than $100 billion worth of the market, accounting for approximately 10% of the total crypto market capitalization of $1.09 trillion. SEC Chair Gary Gensler has expressed the view that “everything other than Bitcoin” is considered a security falling under the jurisdiction of the agency. According to the crypto data site CoinMarketCap, there are approximately 25,500 cryptocurrencies currently in existence. SEC-deemed crypto ‘securities’ The SEC has recently announced the classification of 54 crypto tokens as securities. These tokens include

Furthermore, the SEC has determined that 13 Mirror Protocol mAssets are also considered securities. These mAssets include

We think this list will be extended step-by-step by the SEC with more tokens as we speak. We remain extremely bullish on our recently launched Pulsechain L1 blockchain with the RH eco system tokens $hex, $pls, $plsx and more.

We also think, that most of the central exchanges will review their token offerings in the next few days and remove the critical trading pairs. As a result, we recommend to swap or trade into real decentralized assets such as $hex, $pls, $plsx for the safety of your portfolio.

There is a significant chance that some of the coins unter SEC watch will loose their value.

In one of our next updates we will share why and why NOW its the right time to upgrade your own financial eco system to become 100% DECENTRALIZED

Update 6/8/23:

According decrypt Binance US will pull over 40 trading pairs as a reaction to SEC lawsuit

Among the cryptocurrencies to be removed, the majority use the stablecoin Tether (USDT) as its pair. This list includes notable examples such as Aave, Basic Attention Token (BAT), Bitcoin Cash (BCH), ZCash (ZEC), and Compound (COMP) along with dozens of other tokens.

Bitcoin will see the removal of eight trading pairs, including Cosmos (ATOM), Polkadot (DOT), and Tezos (XTZ) among others.

Binance’s native stablecoin, BUSD, will lose its pair against Hedera Hashgraph (HBAR) and Harmony (ONE).